INSURANCE    LAWS 


OF    WISCONSIN 


IN    EFFECT   JULY  L  1909 


COMPILED     BY 

HERMAJSr    L.    EKEIil^ 

FOE 

GEORGE    E.    BEEI>LE, 
Commissioner  of  Insurance 


PUBLISHED   BY  AUTHORITY   OP   LAW 

JAl^ES  A.  FREAR 
Secretary  of  State 


MADISON,  WIS. 
Democrat  Printing  Company,  Stati  Pmntir. 

1909. 


•T^'t^-tx? 


/L/txx>-; 


INSURANCE    LAWS 

OF    WISCONSIN 

IN    EFFECT    JULY  1,  1909 


COMPILED     BY 

HERMAN    L.    EKERN 

FOR 

GEORGE    E.    BEEDLE, 

Coniniissioner   of  Insurance 


PUBLISHED   BY   AUTHORITY    OF   LAW 

JAMES  A.  FREAR 

Secretary  of  State 


MADISON,  WIS. 

Democrat  Printing  Company,  State  Printer. 
1909. 


9^ 


TABLE   OF  CONTENTS. 


Department  of  insurance,  94k-94m,  128,  170,  961. 

Taxation,  exemptions,  1038. 

Future  estates,  valuation,  1087—13  (2);  1087 — 15  (2). 

License  fees,  1219-1222. 

Retaliatory  laws,  1221. 

Proxies,  1760m. 

Corporations,  articles,  amendments,  1772-1774. 

Domestic  companies,  stock  and  mutual,  1896-1908a. 

Guaranty  surplus  and  special  reserve  funds,  1909-1914. 

Reinsurance  companies,  1914a. 

Fire  companies,  foreign,  1915-1919c. 

Reinsurance,  1919d-1919g. 

Unauthorized  companies.  1919f. 

Fire  company  reports,  1920,  1921. 

Payment  of  judgment,  1919e. 

Boards  of  fire  under-writers  and  fire  patrol,  1922-1925. 

Fire  department  duties,  1926. 

Town  mutuals,  1927-1941. 

City  and  village  mutuals,  1941—2  to  1941—12. 

Standard  fire  policy,  1941—42  to  1941—65. 

Fire  insurance,  general  provisions,  1942-1946. 

Policies  to  indicate  whether  mutual  or  stock,  1942. 

Surplus,  limitation,  fire  companies,  1942 — 1. 

Realty  insurance,  valued  policy,  1943. 

Cash  value,  co-insurance,  1943a. 

Rates,  combination  to  fix,  1943b. 

Premium  notes,  1944,  1945. 

Application,  attach  to  policy,  1945a. 

Foreign  companies,  limitation  of  assessment,  1945b. 

Fire  companies,  domestic,  cyclone  risk,  l&45c. 

Magistrate's  certificate,  1945d. 

Resident  agents,  1945e. 

Directors,  1945f. 

Lloyds'  insurance,  resident  agent,  1945g. 

Fire  companies,  mutual,  directors,  liabilities,  1945h. 

Fire  companies,  foreign,  assessments,  notice,  19451. 

Milwaukee  agents,  1946. 

Misrepresentation,  1946a-1946f. 

Cancellation,  short  rate,  1946d. 

State  fire  marshal,  1946g-1946q. 

Life  companies,  definitions,  1946x. 

Life  companies,  domestic,  1947-1947a. 

Life  companies,  domestic  mutuals,  1947c-1947k. 

Policies,  participating  and  non-participating,  1947o. 

Surplus,  rights  of  stockholders  and  policyholders,  1947p. 

Life  companies,  domestic,  salaries,  1947r. 


68S19? 


TABLE  OP  CONTENTS. 


License,  1947  (5),  1948,  1949. 

Valuation  of  policies,  1950 

Premium,  expense  charge  and  limitation,  1950m. 

Expenses,  report,  limitation,  1950n-1950t. 

Life  companies,  domestic,  investments,  1951. 

Dividends,  1952-19521. 

Life  companies,  foreign,  admission,  1953.  * 

Application,  copy,  1953b. 

Disbursements,  political,  legislative,  1953d,  1953e. 

Report,  annual,  gain  and  loss  exhibit,  1953n,  1954,  1955. 

Mutual  benefit  societies,  1955a-1955n. 

Discrimination,  1955o. 

General  penalty  provision,  1955o — 5. 

Agent,  corporation  not  licensed,  1955x — 1. 

Assessment  life  companies,  1955y — 1  to  1955y — 2. 

Reinsurance,  domestic  life  and  casualty  companies,  1955 — 21,  1955 — 26. 

Hail  companies,  foreign,  1966 — 1. 

Casualty  companies,  foreign,  1966 — 32  to  1966 — 49a. 

Department  of  insurance,  1967-1 972c 

Deposit  with  state  treasurer,  1973. 

Judgment,  non-payment,  1974. 

Removal  of  causes,  conditions  in  contracts,  1975. 

Agents,  1976,  1977. 

Insurers  to  comply  with  law,  1978. 

State  insurance  fund,  1978a-1978e. 

Lloyds'  marine  insurance,  1978f-1978m. 

Insurance  by  married  women,  2347,  2347b. 

Defendant  insurance  companies,  joinder,  2609a. 

Process,  service  on  insurance  corporations,  2637  (9)   (10)   (11). 

Exemption  of  insurance  moneys,  2982  (19). 

Injunction,  3218,  3219. 

Forfeiture,  3299,  3300. 

Future  estates,  3871a. 

Evidence,  documentary,  4182,  4182a. 

Warranties  in  insurance,  4202m. 

Arson,  4405. 

Fraud  on  life  companies,  absconding,  4438e. 

State  officers  and  employees,  4549,  4549m. 

Mutual  benefit  society,  penalties,  4575c-4575e. 


Insurance  Laws  of  Wisconsin. 


The  Sect'ons  are  taken   from    the    Statutes   of    1898   unless   otherwise 

noted. 


DEPARTMENT  OF  INSURANCE. 

128 

Commissioner  of  Insurance;  election;  term. 

Section  128.  The  governor,  lieutenant-governor,  secretary 
of  state,  treasurer,  attorney-general,  *  *  *  and  commis- 
sioner of  insurance  shall  be  chosen  at  the  general  election  in 
the  year  1898  and  biennially  thereafter;  and  the  regular  term 
of  office  of  said  state  officers  when  elected  for  a  full  term 
shall  commence  on  the  first  Monday  in  January  next  succeed- 
ing their  election.     *     *     *  " 

170  (1898;  chs.  643  and  676,  1907.) 
Officers;  employes;  compensation. 
14.  Department  of   Insurance. 

a.  The  commissioner  of  insurance,  five  thousand  dollars. 

b.  The  deputy  commissioner  of  insurance,  eighteen  hundred 
dollars. 

c.  The  clerks  and  other  employes  in  the  office  of  the  com- 
missioner of  insurance  the  sums  following:  The  chief  clerk 
fourteen  hundred  dollars;  the  license  clerk,  twelve  hundred 
dollars;  the  examiner,  fourteen  hundred  dollars;  two  clerks, 
twelve  hundred  dollars  each;  an  expert  stenographer,  twelve 
hundred  dollars;  the  filing  clerk,  who  must  be  a  typewriter 
operator,  twelve  hundred  dollars. 


1038  TAXES  AND  FEES.  6 

d.  The  insurance  actuary,  not  to  exceed  twenty-four  hun- 
dred dollars;  the  assistant  actuary,  not  to  exceed  fifteen  hun- 
dred dollars. 

Sections  94k  to  94m  relating  to  vacancies  in  state  oflSices  are  omitted, 
also  section  961  relating  to  resignations. 

1038 

Personal  property  of  insurance  companies  exempt. 

Section  1038.  The  property  in  this  section  described  is 
exempt  from  taxation,  to- wit:     *     *     * 

13.  All  the  personal  property  of  all  insurance  companies  that 
now  are  or  shall  })e,  organized  or  doing  business  in  this  state. 


10^7^13  (Sec.-l'8;chV44,  1903.) 
Fuiture  estates;  valuation. 

Section  1087 — 13  (2).  Whenever  a  transfer  of  property  is 
made  upon  which  there  is,  or  in  contingency  there  may  have 
been,  a  tax  imposed,  such  property  shall  be  appraised  at  its 
clear  market  value  immediately  upon  such  transfer  or  as 
soon  thereafter  as  practicable.  The  value  of  every  future  or 
limited  estate,  income,  interest  or  annuity  dependent  upon  any 
life  or  lives  in  b'^ing,  shall  be  determined  by  the  rule,  method, 
standard  of  mortality  and  value  employed  by  the  commis- 
sioner of  insurance  in  ascertaining  the  value  of  policies  of 
life  insurance  and  annuities  for  the  determination  of  liabili- 
ties of  life  insurance  companies  except  that  the  rate  of  inter- 
est for  making  such  computation  shall  be  five  per  centum  per 
annum. 

For  the  method  of  valuation  see  section  3871a. 

1087—15  (Subd.  2,  sec.  15,  ch.  44,  1903.)  . 
Commissioner  to  value  future  estates. 

Section  1087 — 15  (2).  The  commissioner  of  insurance  shall 
on  application  of  any  county  court  determine  the  value  of  any 
such  future  or  contingent  estates,  income  or  interests  therein 
limited,  contingent,  dependent  or  determinable  upon  the  life  or 
lives  of  the  person  or  persons  in  being  upon  the  facts  con- 
tained in  such  appraiser's  report  or  upon  the  facts  contained 
in  the  county  court's  finding  and  determination  and  certify 
the  same  to  the  county  court  and  his  certificate  shall  be  pre- 
sumptive evidence  that  the  methods  of  computation  adopted 
therein  is  correct. 


'7  TAXES  AND  FEES.  1219e 

1219  (1898;  ch.  325,  1905;  ch.  290,  1909,  in  effect  July  1,  1909.) 
Fire  and  manne  companies;  license  fees. 

Section  1219.  1.  Every  company  transacting  the  business 
of  insurance  against  fire  or  by  the  risk  of  inland  navigation  or 
transportation,  *  *  *  shall  pay  to  the  state  *  *  *,  on 
or  before  the  thirty-first  day  of  January  in  each  year,  a  tax  of 
*  *  *  two  per  centum  on  the  amount  of  the  gross  premiums 
received  for  direct  insurance,  less  return  premiums  and  cancel- 
lations on  direct  insurance,  by  such  company  during  the  pre- 
ceding year,  in  this  state.  =*  *  *  Direct  insurance  shall  in- 
clude all  insurance  other  than  reinsurance.  In  case  any  com- 
pany shall  discontinue  business  in  this  state  and  reinsure  the 
whole  or  a  part  of  its  risks  without  making  payment  of  this  tax, 
the  company  accepting  such  reinsurance  shall  pay  the  tax;  and 
if  several  companies  shall  make  such  reinsurance  the  tax  shall 
be  apportionea  between  such  companies  in  proportion  to  the 
original  premiums  upon  the  business,  in  this  state,  so  reinsured 
by  each  such  company,  upon  the  payment  of  the  tax  herein 
proviaed,  such  company  may  be  licensed  to  transact  its  busmess 
until  the  last  day  of  January  m  the  ensuing  year,  unless  sooner 
revoked  or  forieited  according  to  law. 

Insurance  companies,  domestic  mutual,  license  fees,  excep- 
tions. 

2.  J^xcepi'ing  domestic  mutual  insurance  companies  included 
in  sections  1^20  or  l^kiOa  and  companies  heretofore  organized 
unaer  sections  1^96  to  190U,  inclusive,  no  domestic  mutual  in- 
surance company  siiaU  be  required  to  pay  any  taxes,  fees,  or 
cliarges  to  the  state  by  reason  of  this  or  any  other  section  of  the 
statutes  now  m  force  or  hereafter  enacted  u7Uess  the  same  shall, 
by  specific  reference  to  this  section,  expressly  iticlude  such  com- 
pany. 

Section  1219  is  referred  to  in  1219m,  1915  (7). 

1219e  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Casualty  companies ;  license  fee. 

Section  1219e.  Every  corporation  transacting  the  business 
of  casualty  or  suretyship  insurance  shall  pay  to  the  state  on  or 
before  the  first  day  of  March  in  each  year,  as  a  license  fee  for 
transacting  such  business,  two  per  centum  upon  the  gross 
premiums  received  during  the  preceding  year  on  all  policies 
or  contracts  which  have  been  written  on  the  lives  of  residents 
or  property  in  this  state. 

Formerly  section  1966 — 49.     See  section  1219. 


1219m  TAXES  AND  FEES.  8 

1219m  (Ch.  259,  1909,  in  effect  June  3,  1909.) 

Fire  companies;  license  fees,  unauthorized  insurance;  in- 
sured; report;  payment  by. 

Section  1219ni.  Any  company  not  authorized  to  do  busines&i 
in  this  state,  which  shall  insure  any  property  situated  in  this 
state  against  fire  or  the  risk  of  inland  navigation  or  trans- 
portation shall  pay  to  this  state  a  tax  upon  the  gross  premiums 
paid  to  such  company  on  such  insurance  computed  at  the  rate 
per  centum  prescribed  by  section  1219,  and  on  default  of  any 
such  company  in  the  payment  of  such  tax  before  the  first  day 
of  March  next  succeeding,  the  owner  of  such  property  shall 
pay  such  tax.  Every  person  paying  more  than  one  hundred 
dollars  premiums  to  any  one  such  company  in  any  year  shall 
report  the  same  in  writing  by  mail  to  the  commissioner  of  in- 
surance before  the  first  day  of  March  next  succeeding,  and  if 
such  report  be  not  made  and  such  tax  remains  unpaid  for  sixty 
days  after  the  said  first  day  of  March,  the  tax  shall  be  in- 
creased by  one-tenth  for  every  month  during  which  such  tax 
remains  unpaid  after  the  expiration  of  said  sixty  days. 

1220  (Ch.  326,  1899;  ch.  21,  1901;  ch.  208,  1903;  ch.  455,  1905; 
ch.  656,  1907.) 
Life  companies;  annual  license  fee. 

Section  1220.  Every  company,  corporation  or  association 
transacting  the  business  of  life  insurance  within  this  state,  ex- 
cepting only  such  fraternal  societies  as  have  lodge  organiza- 
tions and  insure  the  lives  of  their  own  members,  and  no  others 
shall,  on  or  before  the  first  day  of  March,  in  each  year,  pay 
into  the  state  treasury  as  an  annual  license  fee  for  transacting 
such  business,  the  amounts  following: 

Domestic  companies.  (1)  If  such  company,  corporation  or 
association  is  organized  under  the  laws  of  this  state,  and  is 
not  purely  an  assessment  or  stipulated  premium  plan  company 
ojider  chapter  270,  laws  of  1899  (sec.  1955 — 1),  three  per 
centum  of  its  gross  income  from  all  sources  for  the  year  end- 
ing December  31st,  next  prior  to  said  first  day  of  March  ex- 
cepting therefrom  income  from  rents  of  real  estate  upon  which 
said  company,  corporation  or  association  has  paid  the  taxes 
assessed  thereon,  and  excepting  also  premiums  collected  out- 
side of  the  state  of  Wisconsin  or  on  policies  held  by  non-resi- 
dents of  the  state  of  Wisconsin.  In  ascertaining  the  income 
upon  which  such  license  fee  shall  be  computed  as  aforesaid,  no 
deduction  shall  be  made  from  premiums,  whether  paid  in  cash 
or  premium  notes,  on  account  of  dividends  allowed  or  paid  to 
the  insured. 


9  TAXES  AND  PEES.  1220a 

Foreign  companies.  (2)  If  any  such  company,  corporation 
or  association  is  organized  without  the  state  of  "Wisconsin,  and 
is  not  purely  an  assessment  company,  it  shall  pay  into  the 
state  treasury,  as  such  annual  license  fee,  the  sum  of  three 
hundred  dollars,  except  that  whenever  the  similar  taxes  and 
fees  imposed  upon  a  company  of  another  state  under  section 
1221,  shall  exceed  three  hundred  dollars,  the  amount  of  the 
tmnual  license  fee  shall  be  deducted. 
-  Section  2.     Chapter  455,  laws  of  1905,  is  repealed. 

Section  1220  is  referred  to  in  1219,  1947.  See  subd.  13,  section  1038; 
also  subd.  2,  section  1219. 

1220a  (Part  of  ch.  326,  1899,  and  sec.  2,  ch.  21,  1901.) 
License  fees  of  other  companies. 

Section  1220a.  Every  other  such  association,  corporation  or 
company  doing  business  within  this  state,  whether  organized 
within  or  without  the  state,  including  all  assessment  companies 
and  associations,  and  stipulated  premium  plan  companies  under 
chapter  270,  laws  of  1899  (sec.  1955 — 1),  and  excepting  only 
such  fraternal  organizations  as  are  hereinbefore  specified,  shall, 
on  or  before  the  first  day  of  March,  in  each  year,  pay  into  the 
state  treasury  of  the  state  as  an  annual  license  fee,  the  sum  of 
three  hundred  dollars. 

Section  1220a  is  referred  to  in  1219. 

1220b  (Part  of  ch.  326,  1899;  and  sec.  3,  ch.  21,  1901.) 

Power  jranted  by  license;  license  fee  in  lieu  of  all  taxes, 
except  on  real  estate. 

Section  1220b.  Such  license,  when  granted  shall  authorize 
the  company,  corporation  or  association  to  whom  it  is  issued  to 
transact  business  until  the  fir.st  day  of  March  of  the  ensuing 
year,  unless  sooner  revoked  or  forfeited.  The  payment  of  such 
license  fee  shall  be  in  lieu  of  all  taxes  for  any  purpose  author- 
ized by  the  laws  of  this  state,  except  taxes  on  such  real  estate 
as  may  be  owned  by  such  company,  corporation  or  association. 

1220c   (Sees.  4,  5  and  6,  ch.  21,  1901.) 

Extension  of  license  to  become  due  an  May  1. 

Section  1220c.  Any  such  company,  corporation  or  associa- 
tion may  have  such  license  extended  in  any  year,  from  the  first 
day  of  March  to  the  first  day  of  May,  by  paying  a  pro  rata 
share  of  the  license  fee  prescribed  by  this  act  for  the  interven- 
ing two  months  and  thereafter  said  annual  license  fee  shall  be 
paid  on  the  first  day  of  May  of  each  year,  and  shall  authorize 


1221  RETALIATORY  LAWS.  10 

such  company,  corporation  or  association  to  transact  business 
until  the  first  day  of  May  of  the  ensuing  year. 

Conflicting  laws  repealed. 

AH  acts  and  parts  of  acts  conflicting  with  the  provisions  of 
this  act  are  hereby  repealed. 

Provisions  of  act  not  to  affect  section  1221. 

This  act  shall  not  affect,  alter  or  repeal  the  provisions  of 
section  1221  of  the  statutes  of  1898,  which,  section  is  hereby 
declared  to  be  in  full  force  and  effect. 

1221 

Retaliatory  laws;  life,  fire,  accident  and  marine  com- 
panies; deposit;  license  fees. 
Section  1221.  Whenever  the  laws  of  another  state  of  the 
United  States  shall  require  of  life,  fire,  accident  or  inland 
navigation  insurance  companies  organized  under  the  laws  of 
this  state  and  doing  business  in  such  other  state  any  deposit 
of  securities  for  the  protection  of  their  policy  holders  or  other- 
wise, or  any  payment  of  taxes,  fines,  penalties,  certificates  of 
authority,  license  fees  or  otherwise,  greater  than  the  amount 
required  by  the  laws  of  this  state  for  the  same  purposes  from 
similar  companies  organized  under  the  law  of  such  other  state 
and  doing  business  in  this  state,  then  all  such  companies  of 
such  other  states  doing  business  within  this  state  shall  make 
the  same  deposit  with  the  state  treasurer  and  shall  pay  him 
the  same  sum  for  taxes,  fines,  penalties,  certificates  of  author- 
ity, license  fees  or  otherwise  as  a  condition  to  the  issue  of  a  j 
license  to  them  as  is  required  to  be  paid  by  the  laws  of  such  | 
other  state.  1 

Section  1221  is  referred  to  in  sections  1220,  1220c. 

1222 

License;  form. 

Section  1222.     The  license  herein  provided  for  shall  certify 
to  the  fact  of  the  payment  of  the  license  fee,  be  attested  by 
the  great  or  lesser  seal  thereto  affixed,  and  shall  be  in  such  form    j 
as  shall  be  approved  by  the  attorney-general.  ''^ 

1760m  (Ch.  389,  1907.) 

Proxies,  existing  invalidated. 

Section  1760m.  No  proxy  heretofore  made  or  given  by  any 
policyholder,  officer,  director  or  trustee  of  any  mutual  life 
insurance  corporation   organized  and  existing  under  the  laws 


11  DOMESTIC  CORPORATIONS.  1772 

of  this  state  shall  be  exercised  or  used  for  voting  upon  any 
question  whatsoever,  and  any  votes  given  or  attempted  to  be 
given  by  such  proxy  shall  be  absolutely  void;  any  thing  in 
the  charter,  certificate,  articles  of  incorporation,  constitution 
or  by-laws  of  any  such  corporation  to  the  contrary  notwith- 
standing. 

1772  (1898;  ch.  507,  1905.) 

Domestic    corporations,    articles,    contents,    verification, 
filing,  fee. 
Section  1772.     In   order  to   form  such   a   corporation   the 
persons  desiring  so  to  do  shall  make,  sign  and  acknowledge 
written  articles  containing: 

1.  A  declaration  that  they  associate  for  the  purpose  of  form- 
ing a  corporation  under  these  statutes,  and  of  the  business  or 
purposes  thereof. 

2.  The  name  of  such  corporation:  But  such  name  shall  not 
contain  the  names  of  individuals  in  the  manner  in  which  they 
are  ordinarily  used  in  partnership  or  business  names,  and  shall 
be  such  as  to  distinc^uish  it  from  any  other  corporation  organized 
under  the  laws  of  this  state.  In  case  of  the  reorganization  of 
a  corporation  the  name  of  the  old  corporation  may  be  used.  No 
corporate  name  shall  be  held  illegal  because  of  the  omission  of 
the  word  ''limited."  The  location  of  such  corporation  in  some 
city,  village  or  town  in  the  state. 

3.  The  capital  stock,  if  any,  the  number  of  shares  and  the 
amount  of  each  share. 

4.  The  designation  of  general  officers  and  the  number  of  direc- 
tors, which  shall  not  be  less  than  three ;  and  the  directors  may 
be  required  to  be  classified  into  three  classes  so  that  one-third 
shall  hold  their  offices  for  one  year,  one-third  for  two  and  one- 
third  for  three  years;  in  which  case  all  directors  elected  sub- 
sequent to  the  first  shall  hold  their  offices  for  three  years  except 
when  elected  or  appointed  to  fill  vacancies. 

5.  The  principal  duties  of  the  several  general  officers  respec- 
tively, 

f).  The  method  and  conditions  upon  which  members  shall  be 
accepted,  discharged  or  expelled ;  and,  in  stock  corporations,  per- 
sons holding  stock,  according  to  the  regulations  of  the  corpora- 
tion, and  they  only,  shall  be  members. 

1772  (7)   (1898;  ch.  507.  1905;  ch.  562,  1907;  ch.  355,  1909,  in 
effect  June  12,  1909.) 
Articles;  amendments;  filing;  recording;  fees. 
7.  Such  other  provisions  or  articles,  if  any  not  inconsistent 
with  law,  as  they  may  deem  proper  to  be  therein  inserted 


1772  DOMESTIC  CORPORATIONS.  12 

for  the  interests  of  such  corporation  or  the  accomplishment 
of  the  purposes  thereof,  including,  if  desired,  the  duration 
of  its  existence.  In  case  the  corporation  is  formed  without  capi- 
tal stock  the  articles  shall  fix  the  time  and  place  for  the  first 
meeting  for  the  election  of  officers,  and  the  signers  of  such  ar- 
ticles shall  give  notice  thereof  to  the  members  in  the  manner 
provided  in  the  next  section.  Such  original  articles  or  a  true 
copy  thereof,  verified  as  such  by  the  affidavits  of  two  of  the 
signers  thereof,  shall  be  filed  with  the  secretary  of  state.  A 
like  verified  copy  and  certificate  of  the  secretary  of  state  show- 
ing the  date  when  such  articles  were  filed  and  accepted  by  the 
secretary  of  state  within  thirty  days  of  such  filing  and  accept- 
ance, shall  be  recorded  by  the  register  of  deeds  of  the  county  in 
which  such  corporation  is  located,  and  no  corporation  shall, 
until  such  articles  be  left  for  record,  have  legal  existence.  The 
register  of  deeds  shall  forthwith  transmit  to  the  secretary  of 
state  a  certificate  stating  the  time  when  such  copy  was  recorded 
and  shall  be  entitled  to  a  fee  of  twenty- five  cents  therefor  to  be 
paid  by  the  person  presenting  such  papers  for  record.  Upon  the 
receipt  of  such  certificate  the  secretary  of  state  shall  issue  a 
certificate  of  incorporation.  For  filing  the  articles  of  incor- 
poration of  corporations  for  the  manufacture  of  beet  sugar, 
or  of  butter,  cheese  or  other  dairy  products,  or  of  corporations 
organized  for  the  business  of  preparing  for  rhar'ket,  storing  and 
selling  products  of  the  farms  of  the  members  of  such  corpora- 
tion, there  shall  be  paid  to  the  secretary  of  state  ten  dollars 
and  for  the  filing  an  amendment  to  such  articles,  five  dollars; 
for  filing  in  his  office  the  articles  of  any  other  corporation,  ex- 
cept as  is  otherwise  provided  in  these  statutes,  the  corporation 
shall  pay  twenty-five  dollars  if  the  capital  stock  of  the  corpora- 
tion is  fixed  therein  at  twenty-five  thousand  dollars  or  less, 
and  one  dollar  for  each  additional  one  thousand  dollars  of 
capital  stock;  and  every  other  corporation  organized  and  do- 
ing business  under  the  laws  of  this  state  shall  pay  a  fee  of  ten 
dollars  for  filing  any  amendment  to  its  articles  other  than  for 
the  purpose  of  increasing  its  capital  stock;  and  for  filing  an 
amendment  increasing  its  capital  stock  shall  pay,  in  addition 
to  said  fee  of  ten  dollars,  one  dollar  for  each  one  thousand  dol- 
lars of  increase,  provided  that  no  fee  shall  be  required  from 
any  corporation  organized  without  capital  stock  or  organized 
exclusively  for  educational,  benevolent,  charitable  or  reforma- 
tory purposes,  the  articles  of  which  provide  that  no  dividend 
or  pecuniary  profits  shall  be  declared  to  the  members  thereof. 


13  DOMESTIC  CORPORATIONS.  1773 

1773  (1898;  ch.  507,  1905.) 

Organization;  temporary  control;  first  meeting;  capital, 
subscribed  or  paid  in  for  transaction  of  business ;  aban- 
donment of  organization. 

Section  1773.  Until  the  directors  or  trustees  shall  be  elected 
the  signers  of  the  articles  of  organization  shall  have  direction 
of  the  affairs  of  the  corporation  and  make  such  rules  as  may 
be  necessary  for  perfecting  its  organization,  accepting  mem- 
bers or  regulating  the  subscription  of  the  capital  stock.  In 
stock  corporations  the  first  meeting  may  be  held  at  any  time 
after  one-half  the  capital  stock  shall  have  been  subscribed; 
and  may  be  called  by  any  two  signers  of  the  articles,  at  such 
time  and  place  as  they  shall  appoint,  by  giving  ten  days'  per- 
sonal notice  thereof  in  vt^riting  to  each  subscriber  of  stock  or 
by  publishing  notice  thereof  for  at  least  two  weeks  before 
such  meeting  in  some  newspaper  published  at  or  nearest  to 
the  designated  place  of  location  of  the  corporation;  or  such 
meeting  may  be  held  without  previous  notice  if  all  the  sub- 
scribers for  stock  be  present  in  person  or  by  duly  authorized 
attorney.  No  such  corporation  shall  transact  business  with 
any  others  than  its  members  until  at  least  one-half  of  its  capi- 
tal stock  shaU  have  been  duly  subscribed  and  at  least  twenty 
per  centum  thereof  actually  paid  in ;  and  if  any  obligation  shall 
be  contracted  in  violation  hereof,  the  corporation  offending 
shall  have  no  right  of  acting  thereon ;  but  the  signer  or  signers 
of  the  articles  and  the  subscriber  or  subscribers  for  stock 
transacting  such  business  or  authorizing  the  same,  or  having 
knowledge  thereof,  consenting  to  the  incurring  of  any  debt 
or  liability,  as  well  as  the  stockholders  then  existing,  shall  be 
personally  liable  upon  the  same.  The  signers  of  the  articles 
of  organization  may  abandon  the  organization  and  revoke  the 
articles  at  any  time  before  fifty  per  centum  of  the  stock  has 
been  subscribed  and  twenty  per  centum  thereof  paid  in  by 
signing  and  acknowledging  duplicate,  written  agreements  re- 
voking the  original  articles  of  organization  and  forwarding 
same  to  the  secretary  of  state,  one  agreement  to  be  filed  b}^ 
him  and  the  other  agreement  to  be  returned  with  certificate  of 
the  secretary  of  state  attached  showing  the  date  when  such 
agreement  was  filed  and  accepted  by  the  secretary  of  state, 
to  be  recorded  by  the  register  of  deeds  of  the  county  in  which 
such  corporation  is  located;  and  the  register  of  deeds  shall 
note  on  the  margin  of  the  record  of  the  articles  of  incorpora- 
tion, the  volume  and  page  where  such  agreement  is  recorded. 
The  register  of  deeds  shall  forthwith  transmit  to  the  secretary 


1774  DOMESTIC  CORPORATIONS.  14 

of  state  a  certificate  stating  the  time  when  such  agreement  was 
recorded  and  shall  be  entitled  to  a  fee  of  twenty-five  cents 
therefor  to  be  paid  by  the  person  presenting  such  agreement 
for  record  provided,  that  the  abandonment  of  the  organization 
or  the  revocation  of  the  articles  in  pursuance  hereof  shall  not 
relieve  such  corporation  or  any  signer  or  subscriber  for  stock 
of  any  stockholder  then  existing  from  any  liability  hereby 
created. 

1774  (1898;  ch.  507,  1905.) 

Articles,  amendment;  filing;  recording;  change  of  name; 
notice;  publication. 
Section  1774.  Any  corporation  organized  under  this  chap- 
ter, may  at  any  meeting  of  its  members  by  a  vote  of  at  least 
the  owners  of  two-thirds  of  all  the  stock  then  outstanding,  in 
case  of  stock  corporations,  or  at  least  one-half  of  the  members 
of  the  corporation  without  stock,  unless  a  greater  vote  shall 
be  required  in  its  articles,  amend  its  articles  of  organization 
so  as  to  modify  or  enlarge  its  business  or  purposes,  change  its 
name  or  location,  increase  or  diminish  its  capital  stock,  change 
its  officers,  or  its  directors  or  provide  anything  which  might 
have  been  originally  provided  in  such  articles  j  but  no  corpora- 
tion without  stock  shall  change  substantially  the  original  pur- 
poses of  its  organization.  Such  amendments  shall  be  adopted 
only  in  accordance  with  the  articles  of  organization,  if  a 
mode  of  amending  the  same  shall  have  been  therein  prescribed. 
When  adopted,  duplicate  copies  of  such  amendment,  with  a 
certificate  thereto  affixed,  signed  by  the  president  and  secre- 
tary, or  if  none,  the  corresponding  officers,  and  sealed  with  the 
corporate  seal,  if  there  be  any,  stating  the  fact  and  date  of 
adoption  of  such  amendment,  and,  if  a  stock  corporation,  the 
total  number  of  shares  voting  in  favor  of  such  amendment, 
and  if  a  corporation  organized  without  capital  stock,  the  total 
number  of  members  and  the  total  vote  in  favor  of  such  amend- 
ment, and  that  such  copy  is  a  true  copy  of  the  original,  shall 
be  forwarded  to  the  secretary  of  state,  one  copy  to  be  filed 
by  him,  and  the  other  copy  to  be  returned  with  certificate  of 
the  secretary  of  state  attached,  showing  the  date  when  such 
amendment  was  filed  and  accepted  by  the  secretary  of  state, 
which  said  copy  shall  be  recorded  by  the  register  of  deeds  of 
the  county  in  which  such  corporation  is  located,  within  thirty 
days  after  filing  with  the  secretary  of  state,  and  in  case  of 
failure  so  to  do,  such  officers  shall  forfeit  twenty -five  dollars,  and 
the  register  of  deeds  shall  note  on  the  margin  of  the  record  of  the 


15  DOMESTIC  CORPORATIONS.  1774 

original  articles,  the  volume  and  page  where  such  amendment 
is  recorded,  and  no  amendment  shall  be  of  effect  until  so  re- 
corded, and  such  amendment  shall  be  void  until  so  filed  and 
recorded.  The  register  of  deeds  shall  forthwith  transmit  to 
the  secretary  of  state  a  certificate  stating  the  time  when  such 
amendment  was  recorded  and  shall  be  entitled  to  a  fee  of 
Iwenty-five  cents  therefor,  to  be  paid  by  the  person  present- 
ing such  amendment  for  record.  Upon  receipt  of  such  certifi- 
cate the  secretary  of  state  shall  issue  a  certificate  of  amend- 
ment. Whenever  the  corporate  name  shall  be  changed  the 
secretary  shall  publish  a  notice  thereof  in  a  newspaper  pub- 
lished at  or  nearest  to  the  place  of  location  of  such  corpora- 
tion for  three  weeks,  and  if  he  shall  fail  for  two  months  so  to 
do  shall  forfeit  twenty-five  dollars.  No  change  of  location  of 
any  such  corporation,  if  beyond  the  limits  of  the  county,  shall 
be  valid  until  the  articles  of  organization  and  all  amendments 
shall  have  been  recorded  in  the  office  of  the  register  of  deeds 
of  the  county  to  which  the  same  shall  be  changed. 

1751  to  1791m,  inclusive  (Chapter  86  of  the  Statutes.) 

For  other  laws  relating  to  the  organization,  management  and 
dissolution  of  corporations  generally,  see  above  sections  in 
statutes  of  1898,  Sanborns'  Supplement,  and  session  law^s.  The 
same  are  omitted  here  because  they  are  included  in  a  com- 
pilation issued  by  the  Secretary  of  State,  Madison.  Wiscon- 
sin, entitled,  ''Private  Corporations." 

1896  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies,  organization ;  incorporators ;  articles ; 
approrval;  filing;  recording. 

Section  1896.  Subject  to  the  conditions  and  In  tlie  manner 
prescribed  by  law,  a  corpoiration  may  be  organized  by  fifteen 
or  more  residents  of  this  state  to  transact  the  business  of  in- 
surance and  the  articles  thereof  may  be  amended,  in  the  man- 
ner provided  in  chapter  86  of  the  statutes,  except  that  such 
articles  and  amendments  shall  be  filed  in  the  office  of  the  com- 
missioner of  insurance  instead  of  being  filed  in  the  office  of 
the  secretary  of  state,  and  shall  be  submitted  to  and  approved 
by  the  attorney-general  before  filing. 

1897  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies;   organization;  purposes;   classifica- 
tion. 
Section  1897.     An  insurance  corporation  may  be  formed  for 
the  following  purposes:     (The  mention  of  several  subjects  or 


1897  DOMESTIC  CORPORATIONS.  16 

risks  of  insurance  in  any  subsection  indicates  that  any  one  or 
more  or  all  may  be  included.) 

1.  Fire  Insurance.  Against  loss  or  damage  to  property  on 
land,  by  fire,  lightning,  hail,  tempest  or  explosion. 

2.  Marine  Insurance.  Vessels,  freights,  goods,  moneys,  ef- 
fects, and  money  loaned  on  bottomry  and  respondentia,  against 
the  perils  of  the  seas  and  other  perils  usually  insured  against 
by  marine  insurance,  including  the  risks  of  inland  transporta- 
tion and  navigation. 

3.  Life  Insurance.  Upon  the  lives  or  health  of  persons,  and 
every  assurance  pertaining  thereto,  and  to  grant,  purchase  or 
dispose  of  annuities  and  endowments. 

4.  Disability  Insurance.  Against  bodily  injury  or  death  by 
accident,  and  upon  the  health  of  persons. 

5.  Liability  Insurance.  Against  loss  or  damage  by  the  sick- 
ness, bodily  injury  or  death  by  accident,  of  any  person  for 
which  loss  or  damage  the  insured  is  liable. 

6.  Steam  Boiler  Insurance.  Against  loss  or  damage  to  the 
property  of  the  insured  or  to  the  life,  person  or  property  of 
another,  for  which  the  insured  is  liable,  caused  by  the  explosion 
of  steam  boilers,  pipes,  engines,  motors  and  machinery  con- 
nected therewith  or  operated  thereby. 

7.  Fidelity  Insurance.  Against  the  loss  from  the  defaults 
of  persons  in  positions  of  trust,  public  or  private,  and  to  guar- 
antee the  performance  of  contracts  and  obligations  other  than 
that  of  insurance. 

8.  Title  Insurance.  To  examine  titles  to  real  and  personal 
property,  furnish  information  relative  thereto  and  insure 
against  loss  or  damage  by  reason  of  incumbrance  and  defects 
in  titles  and  against  non-payment  of  principal  and  interest  of 
bonds  and  mortgages. 

9.  Credit  Insurance.  Against  loss  from  the  failure  of  per- 
sons indebted  to  the  assured  to  meet  their  liabilities. 

10.  Burglary  Insurance.  Against  loss  or  damage  by  burglary 
or  theft,  or  both. 

11.  Plate  Glass  Insurance.  Against  the  breakage  of  glass, 
located  or  in  transit. 

12.  Sprinkler  Leakage  Insurance.  Against  loss  or  damage 
by  water,  caused  by  the  breakage  or  leakage  of  sprinklers, 
pumps,  water  pipes  or  plumbing,  or  its  fixtures,  and  against 
accidental  injury  to  such  sprinklers  and  other  apparatus. 

13.  Elevator  Insurance.  Upon  elevators  and  vehicles,  and  to 
inspect  the  same  and  issue  certificates  thereof. 

14.  Live   Stock   Insurance.     Against   loss   or   damage   to   do- 


17  DOMESTIC  CORPORATIONS.  1897a 

mestic  animals,  except  by  fire,  and  to  furnish  the  services  of  a 
veterinary  surgeon  for  such  animals. 

15.  Other  Casualty  Insurance.  Against  loss  or  damage  to 
property  by  any  other  casualty  which  may  lawfully  be  the  sub- 
ject of  insurance,  and  which  shall  be  specified  in  the  articles 
of  organization,  and  for  which  no  other  provision  is  made  by 
law. 

Section  1897  is  referred  to  in  1897g. 

1897a  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Insurance  companies,  s'cock ;  mutual. 

Section  1897a.  1.  Companies  may  be  formed  upon  the  stock 
plan  to  transact  anj^  kind  of  insurance  authorized  by  section 
1897,  or  upon  the  mutual  plan  to  transact  the  kinds  of  insur- 
ance described  in  subsections  1,  2,  3,  4,  5,  11,  12  and  14  of  sec- 
tion 1897. 

Risks  permitted  in  one  company. 

2.  No  company  shall  be  formed  for  the  purpose  of  engaging 
in  any  other  kind  of  insurance  than  that  specified  in  some  one 
of  the  subsections  of  section  1897,  or  more  kinds  of  insurance 
than  are  specified  in  a  single  subsection,  except  that  a  company 
may  be  formed, 

(a)  For  the  purposes  specified  in  subsections  1,  2,  and  12;  or 

(b)  For  the  purposes  of  specified  in  subsections  3  and  4;  or 

(c)  For  any  or  all  of  the  purposes  specified  in  subsections 
4  to  14,  both  inclusive. . 

Policies  to  be  separate. 

3.  Insurance  under  each  subsection  of  section  1897  shall  be 
written  in  separate  and  distinct  policies,  except  that  the  same 
policy  may  embrace  risks  specified  in  subsections  1  and  12  or 
4  and  5. 

Policies  against  hail  to  be  separate. 

4.  Insurance  against  damage  by  hail  to  crops  shall  be  written 
in  separate  and  distinct  policies  from  other  insurance  men- 
tioned in  subsection  1  of  section  1897. 

1897b   (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Mutual  companies,  name;  "mutual,"  when  liability  "lim- 
ited mutual." 
Section  1897b.     1.  The  name  of  every  corporation  hereafter 
organized  doing  business  on  the  mutual  plan  shall  contain  the 
word  "mutual,"  and  if  the  liability  of  the  members  to  the 


1897c  DOMESTIC  CORPORATIONS.  18 

company  and  thereby  the  liability  of  the  company  to  the  mem- 
bers shall  be  limited,  the  name  of  any  corporation  hereafter 
organized  shall  contain  the  words  ''limited  mutual." 

Stock  companies,  name. 

2.  No  name  shall  be  used  which  shall  be  so  similar  to  any 
name  already  in  use  as  to  mislead  the  public  in  any  respect. 

1897c   (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Mutual  company,  articles. 

Section  1897c.  1.  The  articles  of  a  mutual  insurance  com- 
pany shall  provide, 

(a)  That  every  person,  corporation,  association  or  partner- 
ship insured  shall  be  a  member  and  shall  have  one  vote. 

(b)  For  amendment  of  the  articles  by  a  vote  of  three-fourths 
of  the  members  voting  at  a  regular  or  special  meeting  after  the 
proposed  amendment  has  been  filed  with  the  secretary  and  the 
commissioner  of  insurance  and  a  copy  thereof  with  notice  of 
the  time  and  place  of  meeting  has  been  mailed  to  each  member 
at  least  thirty  days  prior  to  such  meeting. 

Limitation;  risk;  territcry;  liability. 

2.  The  articles  of  a  mutual  insurance  company,  subject  to 
the  condition  that  the  same  be  expressed  in  every  policy,  may 
limit 

(a)  The  insurance  tu  specified  kinds  or  classes  of  property, 
lives,  individuals  or  liabilities  within  any  subsection  of  section 
1897; 

(b)  The  territory  within  which  insurance  shall  be  granted; 
or 

(c)  The  liability  of  members,  which  liability  shall  be  the  an- 
nual premium  or  a  specified  number  of  times  the  annual 
premium. 

1897d  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies;  by-laws;  filing;  forfeiture. 

Section  1897d.  1.  Every  insurance  corporation  shall  adopt 
by-laws  and  prescribe  the  manner  in  which  the  same  may  be 
amended. 

A  copy  of  such  by-laws  and  of  any  amendments  thereto, 
accompanied  by  the  certificate  of  the  president  and  secretary 
stating  that  the  same  have  been  duly  adopted  and  that  such 
copy  is  true  and  complete,  shall  be  filed  with  the  commis- 
sioner of  insurance  within  thirty  days  after  such  adoption. 


19  DOMESTIC  CORPORATIONS.  1897e 

and  in  case  of  failure  so  to  do  each  shall  forfeit  twenty-five 
dollars. 

1897e  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Mutual  companies;  applications  for  insurance;  filing. 
Section    1897e.     1.  In   a   mutual   insurance   corporation,   a 
statement   of   the   agreements   or   applications   for   insurance 
made  before  organization  shall  be  filed  with  the  commissioner 
of  insurance  in  such  form  as  he  shall  require. 

Membership  during  organization. 

2.  Every  person  making  such  agreement  or  application 
shall,  after  such  filing,  and  until  the  corporation  begins  to 
transact  insurance,  be  entitled  to  notice  of  and  to  participate 
in  all  meetings  of  members  of  the  corporation. 

1897g  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Stock  companies;  capital  stock  required. 

Section  1897g.  1.  No  stock  insurance  company  shall  trans- 
act the  business  of  insurance  unless: 

(a)  It  has  a  capital  stock  actually  paid,  in  cash  or  invested 
as  provided  by  law,  *of  at  least  one  hundred  thousand  dollars 
for  the  insurance  specified  in  any  one  subsection  of  section 
1897; 

(b)  With  an  additional  fifty  thousand  dollars  for  the  in- 
surance mentioned  in  any  other  subsection  which  may  be 
transacted  by  such  company; 

(c)  Provided  that  the  capital  stock  required  or  to  be  added 
for  transacting  business  under  either  subsection  4  or  14  need 
not  exceed  twenty-five  thousand  dollars; 

(d)  Provided,  that  a  company  transacting  the  business  men- 
tioned in  subsection  1  shall  not  require  any  additional  capi- 
tal to  transact  that  mentioned  in  subsection  12,  and  that  the 
total  capital  required  to  transact  the  business  mentioned  in 
several  or  all  of  subsections  4,  5,  6,  8,  9,  10,  11,  12  and  13. 
need  not  exceed  two  hundred  and  fifty  thousand  dollars. 

Surplus  required. 

2.  Nor  shall  any  stock  insurance  company  begin  the  busi- 
ness of  insurance  unless  it  has  a  surplus,  including  the  fund 
mentioned  in  paragraph  (b)  of  section  1897s  actually  paid, 
in  cash  or  invested  as  provided  by  law,  equal  to  one-fourth 
of  its  capital  stock. 


18971  .  DOMESTIC  CORPORATIONS.  20 

Mutual  companies;  members;  corporations. 

3.  Any  mutual  insurance  company  may  issue  policies  to 
any  public  or  private  corporation,  board  or  association  in  this 
state  and  elsewhere;  and  any  public  or  private  corporation, 
board  or  association  of  this  state  is  authorized  to  make  ap- 
plications, enter  into  agreements  for  and  hold  policies  in  any 
mutual  insurance  company. 

18971  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Domestic  companies;  transactin/j  business;  conditions. 

Section  18971.  1.  No  domestic  insurance  corporation  shall 
continue  or  transact  business,  other  than  the  dissolution  and 
winding  up  of  its  affairs,  at  any  time  after  its  risks  outstand- 
ing, for  a  period  of  one  year,  shall  have  been  below  the  mini- 
mum prescribed  by  section  1898d, 

Incorporators ;  direcfcors ;  liability. 

2.  The  original  incorporators  during  the  first  year  after 
the  filing  of  the  articles  of  organization  and  until  the  elec- 
tion of  directors,  and  thereafter  the  directors,  shall  be  jointly 
and  severally  personally  liable  for  any  losses  incurred  during 
the  time  or  times  hereinafter  mentioned: 

(a)  Upon  any  policies  written,  issued  or  delivered  during 
any  time  when  the  risks  outstanding  shall  be  below  the  mini- 
mum prescribed  by  section  1898d,  and 

(b)  For  the  excess  of  any  policy  above  the  maximum  single 
risks  prescribed  by  section  1898  during  the  time  while  such 
policy  exceeds  such  maximum  single  risk. 

1897s  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Domestic  companies;   transacting  insurance;   conditions; 
special  surplus  fund. 

Section  1897s.  No  domestic  insurance  company  shall  be- 
gin to  transact  the  business  of  insurance  until: 

(a)  It  shall  issue  simultaneously  policies  upon  one-  hun- 
dred or  more  risks,  each  within  the  maximum  single  risk 
prescribed  in  section  1898;  or 

(b)  It  shall  hold  a  fund  in  excess  of  the  capital  stock,  if 
any,  in  cash  or  invested  as  provided  by  law,  equal  to  ten  times 
the  maximum  single  risk  to  be  assumed,  which  fund  shall  be 
used  for  the  payment  of  losses  only  and  may  be  repaid  only 
after  the  risks  outstanding  shall  exceed  the  minimum  pre- 
scribed in  section  1898d. 

(c)  It  shall  have  received,  in  cash,  one  annual  premium 
upon  each  risk  outstanding. 

Section  1897s  is  referred  to  in  1897g. 


21  SINGLE  RISK.  1897t 

1897t  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Domestic  companies;  examination,  first;  certificates. 
Section  1897t.     No  domestic  insurance   company  shall  be- 
gin to  transact  insurance  until  the  same  shall  have  been  fully 
examined  by  the  commissioner  of  insurance  and  he  shall  is- 
sue a  certificate: 

(a)  That  such  company  has  a  capital,  surplus  and  appli- 
cations for  risks  outstanding,  as  the  case  may  be,  and  as 
required  by  law; 

(b)  That  its  funds  are  held  in  cash  or  invested  as  required 
by  law. 

(c)  That  those  making  applications  for  insurance  are  in  a 
position  to  perform  the  same; 

(d)  That  the  incorporators  and  proposed  directors  are  finan- 
cially responsible  for  and  understand  the  obligations  imposed 
upon  them  by  law;  and 

(e)  That  said  company  has  fully  complied  with  all  require- 
ments of  the  law. 

1898   (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies;  risk;  maximum  single;  reinsurance 
Section  1898.     1.   (a)  Except  as  otherwise  provided  by  law, 
the  maximum  single  risk  shall  be  ten  per  centum  of  the  ad- 
mitted assets. 

(b)  In  a  mutual  company  it  may  be  a  greater  amount  not 
exceeding  three  times  the  average  policy  or  one-eighth  of  one 
per  centum  of  the  insurance  in  force,  whichever  is  the  greater. 

(c)  Upon  the  business  mentioned  in  subsection  14  of  sec- 
tion 1897,  in  a  stock  company,  it  shall  be  one-twentieth  of 
the  paid  up  capital. 

2.  Any  re-insurance  taking  effect  simultaneously  with  the 
policy  shall  be  deducted  in  determining  such  maximum  single 
risk. 

Section  1898  is  referred  to  in  1897i,  1897s  and  1898d. 

1898d  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies ;  risks ;  minimum  outstanding. 
Section   1898d.     The  minimum   of  risks   outstanding   shall 
be  two  hundred,  each  within  the  maximum  single  risk  pre- 
scribed in  section  1898. 

Section  1898d  is  referred  to  in  1897i,  and  1897s. 


1901J  MUTUAL  COMPANIES.  22 

1901J   (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Mutual  companies;   expenses;  limitation;  exceptions. 

Section  1901j.  Except  as  otherwise  provided  by  law  and 
excepting  companies  transacting  only  disability  insurance  no 
mutual  insurance  company  shall  pay  or  incur  in  any  year  any 
expense,  exclusive  of  investment  expenses,  taxes  and  fees,  in 
excess  of  fifty  per  centum  of  the  premiums  and  assessments 
collected  during  the  year;  or  in  excess  of  one-half  of  one  per 
centum  on  the  greatest  amount  of  insurance  in  force  at  any 
time  during  the  year,  whichever  is  the  greater. 

1901m  (Ch.  460,  1909,  in  effect  June.  19,  1909.) 
Mutual  companies;  risks;  classification. 

Section  1901m.  A  mutual  insurance  company  may  classify 
the  property  or  risks  insured,  at  the  time  of  insuring  the  same, 
under  different  rates  corresponding  as  nearly  as  may  be  to  the 
greater  or  less  risks  which  may  be  attached  thereto. 

1901n  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Mutual  fire  companies ;  policies ;  term. 

Section  1901n.  Except  as  otherwise  provided  by  law,  no 
mutual  fire  insurance  company  shall  make  any  contract  for  in- 
surance expiring  more  than  five  years  after  the  date  thereof. 

1902 

Trading  powers. 

Section  1902.  No  fire  or  inland  navigation  or  transporta- 
tion insurance  corporation  organized  under  any  law  of  this 
state  shall  directly  or  indirectly  deal  or  trade  in  buying  or 
selling  any  goods,  wares,  merchandise,  or  other  commodities 
whatever,  excepting  such  goods  or  articles  as  may  have  been 
insured  by  such  corporation  and  are  claimed  to  be  damaged  by 
fire  or  water;  nor  hold  or  convey  real  estate,  excepting  for 
the  purposes  and  in  the  manner  herein  set  forth,  to-wit :  Such 
as  shall  be  necessary  for  its  convenient  accommodation  in  the 
transaction  of  its  business,  or  such  as  may  have  been  conveyed 
or  mortgaged  to  it  in  good  faith:  by  way  of  surety  for  loans 
or  for  debts  or  money  due  in  its  legitimate  business,  or  such 
as  have  been  purchased  at  sales  upon  judgments  or  mortgages 
obtained  or  made  for  such  debts;  but  all  such  real  estate  as 
may  be  so  acquired,  which  shall  not  be  necessary  for  the  ac- 
commodation of  such  corporation  in  the  transaction  of  its  bus- 
iness, shall  be  sold  or  disposed  of  within  four  years  after  such 
corporation  shall  have  acquired  the  same  unless  such  corpora- 
tion shall  procure  a  certificate  from  the  commissioner  of  in- 


23  INVESTMENTS.  1903 

surance  that  it  will  suffer  materially  from  a  forced  sale  there- 
of, in  which  event  the  sale  may  be  postponed  for  such  period 
as  said  commissioner  may  therein  direct. 

1903  (1898;  ch.  267,  1909,  in  effect  June  4,  1909.) 
Domestic  companies,  investments;  capital. 

Section  1903.  1.  Any  domestic  insurance  corporation,  where 
no  other  provision  is  made  hy  law,  may  *  *  *  invest  its 
capital     *     *     *     a^  follows: 

a.  In  a7iy  bonds  or  notes  secured  on  improved,  unencumbered 
real  estate  within  this  state  worth  at  least  fifty  per  centum 
more  than  the  sum  loaned  thereon,  exclusive  of  buildings  un- 
less such  buildings  are  kept  insured  to  an  amount  which  to- 
gether with  one-half  the  value  of  the  land  shall  equal  or  exceed 
the  loan,  and  the  policy  or  policies  of  insurance  thereon  he  as- 
signed to  and  held  by  said  corporation  as  collateral  to  such  loan. 

h.  Any  law f idly  authorized  bonds  or  other  evidence  of  in- 
debtedness of  the  United  States,  or  of  any  state  of  the  United 
States. 

c.  In  the  bonds  or  other  evidences  of  indebtedness  of  any 
county,  city,  town,  village,  or  school  district  of  any  state  or  ter- 
ritory of  the  United  States  or  of  the  District  of  Columbia. 

d.  In  the  first  mortgage  bonds  of  any  railroad  or  other  pub- 
lic service  corporation  of  any  of  the  states  in  which  said  insur- 
ance corporation  shall  be  doing  business  at  the  time  of  such  in- 
vestment. 

Funds  other  than  capital. 

2.  Any  other  funds  of  such  insurance  corporation  may  be  in- 
vested: 

a.  In  like  bmids  or  evidences  of  indebtedness  or 

b.  In  the  stocks  and  bonds  or  other  evdences  of  indebtedness 
of  any  solvent  dividend  paying  corporation  of  any  state  in 
which  said  insurance  corporation  shall  be  doing  business  at  the 
time  of  such  investment,  except  stock  in  its  own  corporation  or 
in  any  other  insurance  corporation. 

c.  Upon  the  collateral  security  of  any  of  the  foregoing  se- 
ciirities,  provided  th^t  the  market  value  of  such  securities  shall, 
during  the  continuance  of  any  such  loan,  be  at  least  ten  per 
centum  more  than  the  sum  loaned  thereon. 

Single  investment;  limitation. 

3.  No  such  company  shall  invest  in,  acquire  or  hold,  directly 
or  indirectly,  more  than  ten  per  centum  of  the  capital  stock  of 
any  corporation,  nor  shall  more  than  ten  per  centum  of  its  capi- 


1904  REINSURANCE.  24 

tal  or  surplus  he  invested  in  the  stock  or  securities  of  any  one 
corporation. 

1904 

Lien  and  stock  profits. 

Section  1904.  Any  insurance  corporation  may  have  a  lien 
upon  the  stock  or  certificate  of  profits  owned  by  any  member 
for  any  debt  due  or  to  become  due  the  corporation  for  pre- 
miums by  providing  therefor  by  the  by-laws  and  by  stating  on 
the  face  of  the  certificate  of  stocks  or  profits  that  the  same  is 
subject  to  any  such  lien;  and  such  lien  may  be  waived  in  writ- 
ing by  the  consent  of  the  president  of  such  corporation  upon 
the  transfer  of  any  such  stock. 

1905 

Reinsurance. 

Section  1905.  Every  corporation  shall  have  the  power  to 
effect  re-insurance  of  any  risks  taken  by  it  and  to  re- insure  the 
risks  taken  by  any  other  such  corporation.  But  no  stock  fire 
insurance  corporation  shall  expose  its'elf  to  any  loss  on  any , 
fire  or  inland  navigation  risk  or  hazard  to  an  amount  exceed- 
ing ten  per  cent,  of  its  paid-up  capital,  exclusive  of  any  guar- 
anty, surplus  or  special  reserve  fund. 

See  sections  1905a,  1905b,  1919d. 

1905a  (Ch.  394,  1903.) 

Re-insurance  by  any  fire  company. 

Section  1905a.     It  shall  be  lawful  for,  and  any  fire  insurance 
company  or  association  authorized  to  transact  business  in  the 
state  of  Wisconsin,  is  hereby  fully  authorized  and  empowered 
to  re-insure  the  whole  or  any  part  of  any  fire  insurance  risk 
taken   by   it   on   any   property    situated   in   the   state   of  Wis- 
consin in  any  other  responsible  company  or  companies,  whose 
capital  stock  and  surplus  shall  equal  or  exceed  one  hundred 
thousand    dollars.     Provided,    any    fire   insurance    company    oi 
re-insurance  company  licensed  toodo  business  in  the   state  of 
Wisconsin   shall  on  retiring  from  business  before  the   expira- 
tion of  its  policies  or  contracts,  file  with  the  insurance  commis- 
sioner a  written  notice  of  such  intention  together  with  a  sworn 
statement    of   its   outstanding   liabilities   or    obligations    under 
such  policies  or  contracts,   and  shall  re-insure  such  liabilities 
or  obligations  in  a  company  authorized  to  do  business  in  this 
state.     All   laws,   acts   and  parts   of  acts,   whether   general   or 
special,  contravening  or  conflicting  with  the  provisions  of  this 
act  are  hereby  repealed. 


25  DIVIDENDS.  1906 

1906  ;    j_: 

Dividends;  penalty  for  making  unauthorized. 

I"  Section  1906.  The  directors,  trustees  or  managers  of  any 
'  fire  insurance  corporation  shall  not  make  any  dividend  except 
from  the  surplus  profits  arising  from  their  business;  and  in 
estimating  such  profits  there  shall  be  reserved  therefrom  a 
sum  equal  to  the  whole  amount  of  premiums  on  unexpirea 
risks  and  policies,  which  are  hereby  declared  to  be  unearned 
premiums;  and  also  there  shall  be  reserved  all  sums  due  the 
corporation  on  bonds  and  mortgages,  stocks  and  book  ac- 
counts, of  which  no  part  of  the  interest  or  principal  thereon 
has  been  paid  during  the  last  year  and  for  which  no  suit  or 
foreclosure  has  been  commenced  for  collection,  or  which,  af- 
ter judgment  thereon  obtained,  shall  have  remained  more  than 
two  years  unsatisfied  and  on  which  interest  shall  not  have 
been  paid;  and  also  there  shall  be  reserved  all  interest  due  or 
accrued  and  remaining  unpaid;  provided,  however,  that  any 
corporation  may  declare  dividends,  not  exceeding  ten  per 
cent,  on  its  capital  stock  in  any  one  year,  that  shall  have  ac- 
cumulated and  be  in  possession  of  a  fund  in  addition  to  the 
amount  of  its  capital  stock  and  of  such  dividend  and  all  actual 
outstanding  liabilities  equal  to  one-half  of  all  premiums  on 
risks  not  terminated  at  the  time  of  making  such  dividend. 
Any  corporation  making  any  dividend  contrary  to  the  forego- 
ing provisions  shall  be  liable  to  a  forfeiture  of  its  charter,  and 
^  each  stockholder  receiving  it  shall  be  liable  to  the  creditors  of 
I  such  corporation  to  the  extent  of  the  dividend  received,  as 
well  as  to  the  penalties  in  such  cases  made  and  provided.  This 
section  shall  not  apply  to  the  declaration  of  scrip  dividends 
by  participating  companies;  but  no  such  scrip  dividends  shall 
be  paid  except  from  surplus  profits  after  reserving  aU  sums  as 
above  provided,  including  the  whole  amount  of  pre::iiiums  on 
unexpired  risks.  The  word  year,  wherever  used  in  this  sec- 
tion, shall  mean  the  calendar  year. 

Compare  with  section  1906a. 

1906a  (Sec.  1,  ch.  166,  1899.) 

Dividends;  penalty  for  making  unauthorized. 

Section  1906a.  Any  stock  fire  insurance  company  doing 
business  or  organized  under  the  laws  of  this  state  may  de- 
clare dividends  not  exceeding  ten  per  centum  of  its  capital 
stock  in  any  one  year,  if  in  addition  to  the  amount  of  its  cap- 
ital stock,  plus  ten  per  centum  of  the  capital  stock,  and  of  such 
dividends  and   all  of  its  outstanding  liabilities,  it  shall  have 


1908  CAPITAL  STOCK,  INCREASE.  *  26 

accumulated  and  be  in  possession  of  a  lawful  fund  equal  to 
the  amount  of  all  unearned  premiums  on  risks  not  terminated 
at  the  time  of  making  such  dividend.  No  dividends  m  ex- 
cess of  said  per  cent,  of  its  capital  stock  shall  be  declared 
until  such  corporation  shall  be  in  possession  of  a  net  surplus 
equal  to  one-half  of  its  capital  stock,  which  surplus  in  no 
event  shall  be  less  than  one  hundred  thousand  dollars.  Any 
dividend  made  contrary  to  the  provisions  of  this  section  shall 
work  a  forfeiture  of  the  charter  of  the  corporation  making 
such  dividend,  and  each  stockholder  receiving  such  dividend 
shall  be  liable  to  the  creditors  of  the  corporation  to  the  ex- 
tent of  the  dividend  received  in  addition  to  the  other  penalties 
and  punishments  prescribed  by  law.  The  word  ''year,"  when- 
ever used  in  this  section,  shall  not  be  construed  to  mean  the 
calendar  year. 

Section  1906a  is  referred  to  in  section  1908a. 

1908  (1898;  ch.  460,  1909,  in  effect  June  19,  1909.) 

Stock  companies;  capital;  increase;  amendment  to  arti- 
cles; examination. 

Section  1908.  Unless  otherwise  provided  in  the  articles  no 
insurance  corporation  shall  increase  its  capital  stock  without  the 
written  consent  of  the  holders  of  three-fourths  of  the  capital 
stock  outstanding.  The  amendment  of  its  articles  increasing 
its  capital  stock  shall  be  adopted  as  otherwise  provided  by  law, 
and  shall  not  be  filed  by  the  commissioner  of  insurance  until 
after  he  shall  have  made  the  same  examination,  in  the  same  man- 
ner, and  on  the  same  conditions,  as  upon  the  organization  or  ad- 
mission of  a  like  corporation.     *     *     * 

Compare  section  1908  with  1908a. 

1908a  (Sec.  2,  ch.  166,  1899.) 

Increase  of  capital  stock;  stock  dividends. 

Section  1908a.  Any  stock  insurance  corporation  organized 
under  the  laws  of  this  state,  or  heretofore  organized  and  do- 
ing business  under  the  laws  of  this  state,  whenever  it  shall 
have  accumulated  and  be  in  possession  of  a  fund,  in  addition 
to  the  amount  of  its  capital  stock  and  all  actual  outstanding 
liabilities,  including  re-insurance  reserve,  in  excess  of  one- 
half  of  the  amount  of  all  premiums  on  risks  not  termined,  such 
corporation  may  increase  its  capital  stock  from  such  fund, 
and  distribute  said  increase  pro  rata  to  the  stockholders  of 
such  corporation;  provided  always  that  such  increase  shall  be 
equal  to  at  least  twenty-five  per  centum  of  the  original  capi- 


27  GUARANTY  SURPLUS  FUND.  1909 

tal  stock  of  said  corporation  and  shall  have  been  authorized 
by  at  least  three-fourths  of  the  members  of  the  board  of  di- 
rectors of  such  corporation  and  approved  by  the  commissioner 
of  insurance;  and,  provided,  also,  that  any  such  corporation 
may  hereafter  make  and  declare  a  dividend  as  provided  in 
the  preceding  section  of  this  act. 
See  sections  1906a.  1908. 


GUARANTY  SURPLUS  FUND  AND  SPECIAL  RESERVE 

FUND. 

1909 

How  created;  commissioner's  duty. 

Section  1909.  Any  fire  insurance  corporation  now  or  here- 
after organized  may  create  the  funds  to  be  known  as  the 
guaranty  surplus  fund  and  the  special  reserve  fund  by  the 
adoption  of  a  resolution  of  its  board  of  directors  at  a  regular 
meeting  thereof  and  by  filing  a  copy  thereof  with  the  com- 
missioner of  insurance,  declaring  the  desire  and  intention  of 
such  corporation  to  create  such  funds  and  do  business  under 
the  provisions  of  this  chapter  therefor.  Thereupon  the  com- 
missioner shall  make  or  cause  to  be  made  an  examination  of 
such  corporation  and  make  a  certificate  of  the  result  thereof, 
which  shall  particularly  set  forth  the  amount  of  its  surplus 
funds  at  that  time  which  may,  under  the  provisions  of  the 
next  section,  be  equally  divided  between  and  set  apart  to  con- 
stitute such  funds,  which  certificate  shall  be  recorded  in  the 
insurance  department.  After  the  date  of  the  recording  of 
such  certificate  all  policies  and  renewals  issued  by  such  cor- 
poration shall  have  printed  thereon  a  notice  that  they  are 
issued  subject  to  the  provisions  of  section  1909  to  1913  inclu- 
sive of  these  statutes. 

1910 

Dividends;  surplus,  and  rule  for  estimating. 

Section  1910.  Thereafter  no  such  corporation  shall  declare 
or  pay  in  any  form  any  dividend  exceeding  seven  per  cent, 
per  annum  upon  its  capital  stock  until  after  its  guaranty  sur- 
plus fund  and  its  special  reserve  fund  shall  have  together  ac- 
cumulated to  an  amount  equal  to  its  said  capital  stock;  and 
the  entire  surplus  profits  of  such  corporation,  above  such  an- 
nual dividend,  shall  be  equally  divided  between  and  be  set 
apart  to  constitute  the  said  funds,  which  shall  be  held  and 


1911  GUARANTY  SURPLUS  FUND.  28 

used  as  hereinafter  provided  and  not  otherwise;  and  any  such 
corporation  which  shall  declare  or  pay  any  dividend  contrary 
to  the  provisions  of  this  section  shall  be  liable  to  be  proceeded 
against  by  the  attorney-general  for  its  dissolution.  In  esti- 
mating such  surplus  profits  for  the  purpose  of  making  a  divi- 
sion thereof  between  said  funds  there  shall  be  deducted  from 
the  gross  assets  of  the  corporation,  including  for  this  pur- 
pose the  amount  of  the  special  reserve  fund,  the  sum  of  the 
following  items: 

1.  The  amount  of  all  outstanding  claims. 

2.  An  amount  sufficient  to  meet  its  liability  for  the  un- 
earned premiums  received  on  policies  having  less  than  one 
year  to  run  from  date  of  policy  and  a  pro  rata  proportion  of 
the  premiums  received  on  the  policies  having  more  than  one 
year  to  run  from  date  of  policy,  which  shall  be  known  as  the 
re-insurance  liability. 

3.  The  amount  of  its  guaranty  surplus  fund  and  of  its  spe- 
cial reserve  fund. 

4.  The  amount  of  the  capital  of  the  corporation. 

5.  Interest  at  the  rate  of  seven  per  cent,  per  annum  upon 
the  amount  of  the  capital  for  whatever  time  shall  have  elapsed 
since  the  last  preceding  cash  dividend;  and  the  balance  shall 
constitute  such  divisible  surplus. 

Section  1910  is  referred  to  in  sections  1909,  1912. 

1911 

Investment  of  surplus. 
Section  1911.  The  said  guaranty  surplus  fund  shall  be  in- 
vested in  the  same  manner  as  capital  on  surplus  accumula- 
tions may  be  and  shall  be  held  liable  and  applicable  in  the 
same  manner  as  the  capital  stock  to  the  payment  of  the  losses 
generally;  and  such  special  reserve  fund  shall  be  invested 
only  as  capital  stock  may  be,  and  shall  be  deposited  from 
time  to  time  as  the  same  shall  accumulate  and  be  invested 
with  the  state  treasurer,  who  shall  permit  said  corporation  to 
collect  and  receive  the  interest  or  dividends  upon  such  se- 
curities as  the  same  may  accrue;  but  no  such  securities  so 
deposited  shall  be  withdrawn  unless  others  of  equal  amount 
and  value  are  substituted  therefor;  and  such  special  reserve 
fund  shall  be  deemed  a  fund  contributed  by  the  stockholders 
to  protect  such  corporation  and  its  policyholders,  other  than 
claimants  for  losses  already  existing  or  then  incurred,  in  case 
of  such  extraordinary  conflagrations  as  are  mentioned  in  the 
next  section ;  and  said  fund  shall  not  be  regarded  as  any  part 


[^  29  GUARANTY  SURPLUS  FUND.  1912 

of  the  assets  of  said  corporation  so  as  to  be  liable  for  any 
claims  for  losses  except  as  hereinafter  provided. 

Section  1911  is  referred  to  in  section  1909. 

1912 

Application  of  reserve;  safety  fund;  discharge  of  com- 
pany's liability. 
Section  1912.  In  the  event  of  an  extensive  conflagration 
Avhereby  the  claims  upon  any  such  corporation  shall  exceed 
the  amount  of  the  capital  stock  and  of  its  guaranty  surplus 
fund,  the  corporation  shall  notify  the  commissioner  of  insur- 
ance thereof,  who  shall  then  make,  or  cause  to  be  made,  an 
examination  of  the  corporation,  and  shall  issue  his  certificate 
of  the  result  in  duplicate  showing  the  amounts  of  capital,  of 
guaranty  surplus  fund,  of  special  reserve  fund,  or  reinsurance 
liability  and  of  other  assets,  one  copy  to  be  given  to  the  cor- 
poration and  one  to  be  recorded  in  the  insurance  department; 
thereupon  the  said  special  reserve  fund  shall  be  immediately 
held  to  protect  all  policy-holders,  other  than  such  as  are  claim- 
ants upon  it  at  the  time  or  such  as  become  claimants  in  conse- 
quence of  such  conflagration,  and  the  amount  of  such  special 
reserve  fund  and  an  amount  equal  to  the  unearned  premiums 
of  such  corporation,  to  be  ascertained  as  provided  in  section 
1910,  shall  constitute  the  capital  and  assets  of  such  corpora- 
tion for  the  protection  of  policy-holders  other  than  such 
c'laimants  and  for  the  further  conduct  of  its  business;  and 
such  certificate  of  the  commissioner  shall  be  binding  and  con- 
clusive upon  all  parties  interested,  whether  as  stockholders, 

I  creditors  or  policyholders,  and  upon  payment  to  the  claim- 
ants for  losses  or  otherwise  existing  at  the  time  of  or  caused 
by  such  general  conflagration  of  the  amount  to  which  they 

i.  are  respectively  entitled,  in  proportion  to  their  several 
claims,  of  thie  full  sum  of  the  capital  of  sQch  corporation,  its 
guaranty  surplus  fund  and  its  assets,  excepting  only  such 
special  reserve  fund  and  an  amount  of  its  assets  equal  to  its 
liability  for  unearned  premiums  as  so  certified,  such  corpora- 
tion shall  be  forever-  discharged  from  any  and  all  further  lia- 
bility to  such  claimants  and  to  each  of  them;  and  the  state 
treasurer  shall,  after  isuing  such  certificate  by  the  commis- 
.doner,  upon  the  demand  of  such  corporation,  transfer  to  it  all 
such  securities  as  it  shall  have  deposited  with  him  as  such  spe- 
cial reserve  fund ;  and  if  the  amount  of  such  special  reserve 
fund  be  less  than  fifty  per  cent  of  the  full  amount  of  the  capi- 
tal of  the   corporation  a  requisition  shall  be  issued  by  the 


1913  GUARANTY  SURPLUS  FUND.  30 

commissioner  of  insurance  upon  the  stockholders  to  make  up 
such  capital  to  that  proportion  of  its  full  amount  in  the  man- 
ner provided  by  law  in  the  case  of  corporations  with  impaired 
capitals;  and  any  capital  so  impaired  shall  be  made  up  to  at 
least  the  sum  of  two  hundred  thousand  dollars;  and  in  case 
such  corporation,  after  such  requisition,  shall  fail  to  make  up 
its  capital  to  at  least  said  amount  of  two  hundred  thousand 
dollars  as  herein  directed,  said  special  reserve  fund  shall  still 
be  held  as  security  and  liable  for  any  and  all  losses  occur- 
ring upon  policies  of  such  corporation  after  such  conflagra- 
tion. 

Section  1912  is  referred  to  in  section  1909. 

1913 

Restoration  of  capital. 

Section  1913.  If  at  any  time  after  said  special  (reserve 
fund  shall  have  been  set  apart  by  any  corporation  it  shall  ap- 
pear upon  examination  by  the  commissioner  of  insurance  that 
the  capital  of  such  corporation  has,  without  the  occurrence  of 
any  such  extensive  conflagration  become  impaired  so  that  he 
shall  order  a  call  upon  the  stockholders  to  make  up  such  im- 
pairment, the  board  of  directors  may  either  require  the  neces- 
sary payment  by  the  stockholders  or  at  their  option  apply  for 
that  purpose  so  much  of  said  special  reserve  fund  as  will  make 
such  impairment  good. 

Section  1913  is  referred  to  in  section  1909. 

1914 

Scope  of  chapter. 

Section  19i4.  All  fire  or  fire  and  inland  navigation  or 
transportation  insurance  companies  organized  under  any  law 
of  this  state  shall  be  subject  to  all  the  provisions  of  this  chap- 
ter (Ch.  89,  Statutes  of  1898)  properly  applicable  thereto,  ex- 
cept that  their  capitals  may  continue  of  the  amount  and  char-' 
acter  provided  by  their  respective  charters,  during  the  term 
authorized  by  such  charters,  and  their  investments  may  re- 
main as  prescribed  by  their  charters,  and  they  shall  enjoy 
any  peculiar  privileges  and  powers  given  in  their  charters  not 
inconsistent  with  this  chapter. 


31  REINSURANCE  CORPORATIONS.  1914a 


REINSURANCE  CORPORATIONS. 

1914a  (Ch.  232,  1901;  ch.  206,  1905.) 

Organization  and  admission;  fees  and  taxes. 

Section  1914a.  Any  number  of  residents  of  this  state,  not 
less  than  nine,  may  form  a  corporation  for  the  purpose  of 
transacting  the  business  of  re-insurance;  such  re-insurance 
company  shall  transact  business  only  with  authorized  insur- 
ance companies  and  not  through  agents,  and  such  re-insur- 
ance may  include  all  classes  and  kinds  of  insurance  permitted 
by  the  statutes,  provided,  however,  that  any  re-insurance  com- 
pany organized  or  admitted  to  transact  more  than  one  class 
or  kind  of  re-insurance,  shall  be  required  to  have  an  aggre- 
gate capital  equal  to  the  capital  now  required  by  law  for  each 
kind  or  class  of  insurance,  and  shall  be  required  to  hold  re- 
serves in  the  same  amount  and  manner  as  now  required  for 
each  such  kind  or  class  of  insurance  which  by  the  provisions  of 
its  charter,  it  is  authorized  to  transact;  such  re-insurance  com- 
pany may  be  incorporated,  and  foreign  re-insurance  companies 
may  be  admitted  to  transact  business  in  this  state,  in  the  same 
manner  as  fire,  life,  casualty  and  surety  corporations  are  now 
provided  for  and  shall  comply  with  the  same  laws  regulating 
such  corporations  so  far  as  the  same  may  be  applicable.  Such 
re-insurance  company  shall  pay  the  same  fees  and  taxes  re- 
quired to  be  paid  by  fire  insurance  companies,  and  shall  within 
the  month  of  January  of  each  year,  file  an  annual  statement 
of  its  business  with  the  department  of  insurance,  showing  its 
condition  on  the  thirty-first  day  of  December  of  the  preceding 
year. 

FOREIGN  FIRE  INSURANCE  COMPANIES. 

1915 

Conditions  upon  which  they  do  business. 

Section  1915.  No  fire  or  fire  and  inland  navigaltion  or 
transportation  company  incorporated  under  the  laws  of  any 
other  state  or  of  any  territory  or  of  any  foreign  government 
shall,  directly  or  indirectly  take  risks  or  transact  any  business 
of  insurance  in  this  state  except  upon  compliance  with  and 
maintenance  of  the  following  requirements. 

Capital;  solvency  of  mutual  companies. 

1.  It  shall  be  possessed  of,  if  a  stock  corporation,  an  actual 
paid  up  in  cash  capital  of  at  least  one  hundred  thousand  dol- 


1915  FOREIGN  FIRE  COMPANIES.  32 

lars;  but  mutual  corporations  of  other  states,  having  the  same- 
standard  of  solvency  as  required  of  mutual  companies  of  this 
state,  may  be  admitted,  in  case  the  state  where  such  corpora- 
tions are  located  admit  the  mutual  corporations  of  this  state 
Lloyds,  individual  underwriters  and  fire  associations,  other  than 
stock  or  mutual  corporations,  may  be  admitted  by  complying 
in  all  respects  with  the  laws  applicable  to  fire '  insurance  cor- 
porations organized  under  the  laws  of  any  foreign  govern- 
ment. The  commissioner  of  insurance,  before  issuing  a  license 
for  the  admission  of  any  corporation  or  association,  shall  make 
a  personal  examination  of  the  affairs  and  financial  condition 
thereof,  and  if  found  to  meet  the  conditions  and  requirements 
of  law  shall  issue  such  certificate  of  admission. 

Remaval  of  cause;  service  of  process. 

2.  It  shall  first  file  a  written  instrument,  duly  signed  by  the 
president  and  secretary  thereof,  with  the  corporate  seal  affixed* 
declaring  that  it  desires  to  transact  the  business  of  insurance 
in  this  state  and  that  it  will  accept  a  license  therefor  accord- 
ing to  the  laws  of  this  state,  which  shall  cease  and  terminate 
in  case  such  corporation  shall  remove  or  make  application  to 
remove. into  any  court  of  the  United  States  any  action  or  pro- 
ceeding commenced  in  any  court  of  this  state  upon  a  claim  or 
cause  of  action  arising  out  of  any  business  or  transaction  done 
therein,  or  in  case  it  shall  violate  or  fail  to  comply  with  any 
provision  of  law  applicable  to  such  corporation,  or  in  case  itw 
capital  shall  be  impaired  to  the  extent  of  twenty  per  cent., 
and  shall  not  be  made  good  within  such  time  as  the  commis- 
sioner of  insurance  shall  require,  if  such  commissioner  shall,  in 
either   case,    declare   its   license    revoked    therefor.     Such    cor- 
poration  shall   also    appoint,   in    writing,   the   commissioner  of 
insurance  or  his  successors  in  office  to  be  its  true  and  lawful 
attorney  upon  whom  all  legal  process  in  any  action  or  proceed- 
ing against  it  may  be  served,  and  in  such  writing  shall  agree 
that  any  legal  process  against  it  which  is  served  on  said  at- 
torney shall  be  of  the  same  legat  force  and  validity  as  if  served 
on  the  corporation,  and  that  such  authority  shall  continue  in 
force  so  long  as  there  is  any  liability  outstanding  against  the 
corporation  in  this  state.     A  copy  of  such  writing,  duly  certi- 
fied, shall  be  filed  in  the  office  of  the  commissioner,  and  copies 
certified   by  him   shall   be   deemed   sufficient   evidence   thereof. 
Service  upon  such  attorney  shall  be  deemed  sufficient  service 
for  all  purposes  upon  the  principal,  and  shall  be  as  effectual 
for  all  purposes  as  though  made  upon   a  corporation  existing 
nn^QJ^  th^  laws  of  this  state.     When  legal  process  against  any 


33  FOREIGN  FIRE  COMPANIES.  1915 

such  corporation  is  served  upon  the  commissioner  he  shall  im- 
mediately notify  the  corporation  of  such  service  hy  letter 
prepaid  and  directed  to  its  secretary,  or,  in  case  of  a  corpora- 
tion of  a  foreign  country,  the  resident  manager,  if  any,  in 
this  country,  and  shall,  within  two  days  after  such  service  for- 
ward, in  the  same  manner,  a  copy  of  the  process  served  on 
him  to  such  secretary  or  manager  or  to  any  person  previously 
designated  by  the  corporation  in  writing.  The  plaintiff,  for 
each  process  so  served,  shall  pay  to  the  commissioner,  at  the 
time  of  such  service,  a  fee  of  two  dollars,  which  shall  be  re- 
covered by  him  as  a  part  of  the  taxable  costs  if  he  prevails  in 
the  suit.  The  commissioner  shall  keep  a  record  of  all  process 
served  on  him,  which  record  shall  show  the  day  and  hour  when 
such  service  was  so  made. 

Copy  of  charter  and  statement. 

3.  It  shall  file  in  the  office  of  said  commissioner  a  copy  of 
its  charter,  duly  certified  by  its  secretary,  together  with  a 
statement  verified  by  the  oath  of  the  president,  vice-president 
or  other  chief  officer  and  of  the  secretary,  containing  the  name 
of  the  corporation,  place  where  located,  amount  of  its  capital 
stock,  and  a  detailed  statement  of  its  assets  showing  the 
amount  of  cash  on  hand  and  in  bank,  the  amount  of  real  estate 
and  how  much  of  the  same  is  incumbered  by  mortgage  or 
otherwise,  the  number  of  shares  of  stock  of  every  kind  owned 
by  it,  the  par  and  market  value  of  the  same,  the  amount  loaned 
on  bond  and  mortgage  and  other  securities,  stating  the  kind 
and  amount  loaned  on  each,  the  estimated  value  of  the  whole 
amount  of  such  securities  and  all  its  other  assets  or  property 
and  the  value  thereof;  also  showing  the  amount  of  its  indebt- 
edness, the  amount  of  losses  adjusted  and  unpaid,  the  amount 
incurred  and  in  process  of  adjustment,  the  amount  resisted  as 
illegal  or  fraudulent  and  all  other  claims  existing  against  it; 
and  a  copy  of  the  last  report,  if  any,  made  under  any  law  of 
the  state  by  which  it  was  incorporated. 

Conditions  as  to  companies  organized  under  foreign  gov- 
ernments. 

4.  Every  such  corporation  organized  under  the  laws  of  any 
foreign  -government  shall,  in  addition  to  the  foregoing,  file  in 
the  office  of  said  commissioner  a  statement,  verified  by  the 
oath  of  its  president,  secretary  or  manager  residing  in  the 
United  States,  showing  to  his  satisfaction  that  such  corpora- 
tion has  invested  in  the  bonds  of  the  United  States  or  of  the 
states  of  New  York  or  Wisconsin,  such  bonds  to  produce  at 

3-1.   L. 


1915  FOREIGN  FIRE  COMPANIES.  34 

least  the  average  current  rate  of  interest  on  such  securities 
or  in  bonds  or  mortgages  on  unincumbered  real  estate  worth 
fifty  per  cent,  more  than  the  amount  loaned  thereon,  the  sum 
of  at  least  two  hundred  thousand  dollars,  and  that  such  bonds 
are  deposited  with  the  superintendent  of  the  insurance  depart- 
ment or  other  proper  officer  of  some  one  of  the  states  of  the 
United  States,  or  are  held  by  citizens  of  the  United  States 
as  trustees,  and  that  such  securities  are  not  pledged  or  incum- 
bered, but  are  held  and  remain  for  the  benefit  and  security  of 
the  policy  holders  of  such  corporation  residing  in  the  United 
States;  or  in  default  of  such  statement  shall  deposit  with  the 
state  treasurer,  for  the  benefit  and  security  of  policy  holders 
residing  in  the  United  States,  a  sum  not  less  ban  fifty  thou- 
sand dollars  in  bonds  of  the  United  States  or  of  the  state  of 
Wisconsin  producing  the  rate  of  interest  aforesaid,  said  bonds 
not  to  be  received,  by  said  treasurer  at  a  rate  above  their  par 
or  current  market  value,  or  in  bonds  and  first  mortgages  on 
improved  unincumbered  real  estate  in  this  state  worth  fifty 
per  cent,  more  than  the  amount  loaned  hereon.  The  bonds 
and  securities  so  deposited  mav  be  exchanged  from  time  to 
time  for  other  securities  receivable  as  aforesaid ;  and  so  long 
as  the  corporation  so  depositing  shall  continue  solvent  and 
comply  with  the  laws  of  this  state  it  may  be  permitted  by  the 
state  treasurer  to  collect  the  interest  or  dividends  on  said  de- 
posit; and  where  deposit  is  made  of  bonds  or  mortgages  ac- 
companied by  full  abstracts  of  titles  the  fees  for  an  examina- 
tion of  title  by  counsel,  to  be  paid  bv  the  par^v  making  the 
deposit,  shall  not  exceed  twentv  dollars  for  each  mortgage ; 
and  the  fees  for  an  appraisal  of  propertv  shall  be  five  dollars 
to  each  appraiser,  not  exceeding  two.  besides  expenses,  for 
each  mortgage. 

Renewal  of  statements;  report. 

5.  Tt  shall  renew  from  year  to  year,  in  such  manner  and 
form  as  may  be  required  by  the  commissioner  of  insurance,  the 
statements  and  evidences  of  investments  and  deposits  above 
required  and  shall  make  and  file  the  annual  statement  and 
report  required  by  section  1920  so  long  as  it  shall  transact 
business  in  this  state. 

Certificates. 

f)  Tt  shall  first  procure  from  the  s^ate  treasurer  a  certificate 
for  the  deposit  so  made,  when  renuired  by  the  foregoing:  pro- 
visions:  and  from  the  commissioner  a  certificate  of  authority 
stating  that  such  corporation  has  complied  with  all  the  pro- 
visions of  this  chapter  applicable  to  it. 


35  LICENSE,  ISSUE,  EXPIRATION.  1916 

License  fees. 

7.  It  shall  pay  the  state  treasurer  the  license  fees  required 
;    to  be  paid  by  section  1219  at  the  time  and  in  the  manner  there- 
in prescribed. 

Section  1915  is  referred  to  in  sec.  2637  (9). 

1916 

Issue  and  expiration  of  license. 
Section  1916.  The  commissioner  of  insurance  shall,  upon 
being  satisfied  that  any  such  insurance  corporation  has  fully 
complied  with  the  requirements  of  the  preceding  section  and 
all  other  provisions  of  law  applicable  thereto,  deliver  to  such 
corporation  a  license  to  transact  business  in  this  state  as  pre- 
scribed in  these  statutes,  and  shall  renew  the  same  from  year 
to  year  so  long  as  such  corporation  shall  desire  to  do  business 
in  this  state  and  its  capital,  securities  and  investments  remain 
secure,  and  shall  give  to  every  agent  of  such  corporation  a 
certificate  that  such  corporation  has  complied  with  all  the 
provisions  of  law  and  is  authorized  to  transact  business  in  this 
state,  which  shall  continue  in  force  unless  sooner  revoked,  in 
case  of  fire,  marine  or  inland  navigation  or  transportation  and 
mutual  hail  corporations,  until  the  thirty-first  day  of  January 
next  after  the  date  thereof  ,  and  in  case  of  life  or  accident  cor- 
porations until  the  first  day  of  March  next  after  the  date 
thereof,  and  shall  be  annually  renewed. 

;  1917 

Payment  of  fee ;  cause  f tvr  revocation  of  license. 

.  Section  1917.  No  fire  or  fire  and  inland  navigation  insur- 
ance corporation  shall  transact  any  insurance  business  in  this 
state  without  first  having  paid  the  license  fees  prescribed 
therefor  by  section  1219  and  obtained  a  license  therefor  a^ 
provided  in  the  preceding  section,  and  if  any  such  corporation 
shall  remove  or  make  application  to  remove  into  n^iy  court  of 
th';'  United  States  any  action  or  proceding  commenced  in  any 
couri:  of  this  state  upon  a  claim  or  cause  of  action  arising  nut 
of  any  business  or  transaction  done  in  this  state,  or  if  it  shall 
violate  or  fail  to  comply  with  any  provision  of  law  applicable 
thereto,  or  in  case  its  capital  shall  be  impaired  to  the  extent  of 
twenty  per  cent,  and  shall  not  be  made  good  within  such  time 
Hs  the  commissioner  of  insurance  shall  require,  according  to 
section  1968,  it  shall  be  the  imperative  duty  of  the  commis- 
sioner to  revoke  any  and  every  authority,  license  or  certificate 
granted  to  such  corporation  or  any  agent  thereof  to  transact 


1918  FIRE  COMPANIES.  36 

any  business  in  this  state,  and  no  such  corporation  or  agent 
thereof  shall  thereafter  transact  any  business  of  insurance  in 
this  state  till  again  duly  licensed ;  in  case  such  revocation  shall 
be  made  because  of  the  removal  of  any  action  to  any  court  of 
the  United  States  no  renewal,  license  or  certificate  of  au- 
thority shall  be  granted  to  such  corporation  for  three  years 
after  such  revocation.  Whenever  such  license  shall  be  re- 
voked the  commissioner  shall  give  notice  of  such  revocation 
by  mail  to  every  agent  of  such  corporation  who  shall  have 
obtained  any  certificate  of  authority  therefor  and  shall  also 
publish  notice  thereof  in  the  official  state  paper. 

1918 

Withdrawal  of  securities. 
Section  1918.  Whenever  any  such  foreign  corporation  shall 
elect  to  discontinue  business  in  this  state  and  shall  have  risks 
unexpired  on  property  insured  therein  it  shall,  before  with 
drawing  its  bonds  or  other  securities  deposited  with  the  treas- 
urer, re-insure  in  some  good  and  solvent  corporation  author- 
ized to  transact  business  in  this  state  all  such  unexpired  risks 
to  the  satisfaction  of  the  insured  and  the  commissioner  of 
insurance,  and  when  so  re-insured  the  said  commissioner  shall 
certify  the  fact  to  the  treasurer,  who  shall  thereupon,  and  not 
otherwise,  surrend(^r  and  deliver  its  bonds  and  other  securities 
in  his  custody. 

1919 

Service  of  process. 

Section  1919.  If  the  license  of  any  such  corporation  not 
organized  under  any  other  law  of  this  state,  shall  be  revoked 
or  it  shall  cease  to  transact  business  in  this  state  the  attorney 
last  appointed  and  the  agents  last  designated  as  acting  as  such 
for  it  shall  continue  attorney  and  agents  for  the  purpose  of 
serving  process  for  commencing  actions  upon  any  policy  or 
liability  incurred  or  contracted  in  this  state  while  it  transacted 
business  therein  so  long  as  any  such  liability  shall  exist. 

1919a  (Sec   1,  ch.  190,  1899;  sec.  1,  ch.  166,  1905.) 

Risks  to  be  approved  by  resident  agent;  exceptions. 

Section  1919a.  No  fire  insurance  company  or  association 
not  incorporated  under  the  laws  of  this  state,  authorized  to 
transact  business  herein,  shall  make,  write,  place,  or  cause  to 
be  made,  written  or  placed,  any  policy,  duplicate  policy  or 
contract  of  insurance  of  any  kind  or  character,  or  any  general 


37  RESIDENT  AGENTS.  1919b 

or  floating  policy  upon  property  situated  or  located  in  this 
state  except  after  the  said  risk  has  been  approved,  in  writing 
by  an  individual  agent  who  is  a  resident  of  this  state,  regu- 
larly commissioned  and  licensed  to  transact  fire  insurance  busi- 
ness herein,  w^ho  shall  countersign  all  policies  so  issued  and  re- 
ceive the  commission  thereon  when  the  premium  is  paid,  and 
enter  such  policy,  duplicate  policy  or  contract  and  payment  of 
premium  upon  his  records,  to  the  end  that  the  state  may  receive 
the  taxes  required  by  the  law  to  be  paid  on  the  premiums  col- 
lected for  insurance  on  all  property  located  in  this  state. 
Nothing  in  this  act  shall  be  construed  to  prevent  any  insurance 
company  or  association,  authorized  to  transact  business  in  this 
state,  from  issuing  policies  at'  its  principal  or  department 
offices,  covering  property  jn  this  state,  provided  that  such 
policies  are  issued  upon  applications  procured  and  submitted 
to  such  company  by  agents  who  are  residents  of  this  state, 
and  licensed  to  transact  the  business  of  insurance  herein  and 
who  shall  countersign  all  policies  so  issued  and  receive  the 
commission  thereon  when  paid,  and  make  the  entries  thereof 
hereinbefore  provided.  No  provision  of  this  section  is  in- 
tended to  or  shall  apply  to  direct  insurance  covering  the  roll- 
ing stock  of  railroad  corporations  or  property  in  transit  while 
in  the  possession  and  custody  of  railroad  corporations  or  other 
common  carriers,  nor  to  the  property  of  such  common  car- 
riers used  or  employed  by  them  in  their  business  as  common 
carriers  of  freight,  merchandise  or  passengers. 

See  sections  1945e  and  1976. 

1919b  (Sec.  2,  ch.  190,  1899.) 
Re-insurance,  how  effected. 

Section  1919b.  No  fire  insurance  company  or  association 
shall  re- insure  in  any  manner  "whatsoever,  the  whole  or  any 
part  of  a  risk  taken  by  it  on  property  situated  or  located  in 
this  state  in  any  other  company  or  association  not  authorized 
to  transact  business  in  this  state.  No  fire  insurance  company 
or  association  shall  transfer  or  cede,  in  any  manner  whatso- 
ever, to  any  company  or  association  not  authorized  to  do  busi- 
ness in  this  state,  any  risk  or  liability  or  any  part  thereof  as- 
sumed by  it,  under  any  form  of  contract  of  insurance,  cover- 
ing property  located  in  this  state,  including  any  risk  or  liabil- 
ity under  any  general  or  floating  policy,  or  any  agreement 
general,  floating  or  specific,  to  re-insure  excess  loss  by  one  or 
more  fires.  No  fire  insurance  company  or  association  shall  re- 
insure, or  assume   as  a   reinsuring  company,   or  otherwise,   in 


1919c  REINSURANCE.  38 

any  manner  or  form  whatsoever,  the  whole  or  any  part  of  any 
risk  or  liability,  covering  property  located  in  this  state,  of  any 
insurance  company  or  association  not  authorized  to  transact 
business  in  this  state. 

Section  1919b  is  referred  to  in  19T9g.  Compare  sections  1905,  1905a 
and  1919d. 

1919c   (Sec.  3,  ch.   190,  1899.) 

Ccanmissioner's  authority;  evidence  of  violation  of  lav^. 

Section  1919c.  A\/henever  the  commissioner  of  insurance 
shall  have  or  receive  information  that  any  fire  insurance  com- 
pany or  association,  not  incorporated  under  the  laws  of  this 
state,  has  violated  any  of  the  provisions  of  sjection  one  of 
this  act,  he  is  authorized,  at  the  expense  of  such  company  or 
association,  to  examine,  by  himself  or  his  accredited  represent- 
ative, at  the  principal  office  or  offices  of  such  company  or  asso- 
ciation, located  in  the  United  States  of  America,  or  in  any  for- 
eign country,  and  also  at  such  other  offices  or  agencies  of  such 
company  or  association  as  he  may  deem  proper,  all  books,  rec- 
ords and  papers  of  such  company  or  association  and  may  ex- 
amine under  oath  the  officers,  managers  and  agents  of  such 
company  or  association  as  to  such  violation  or  violations.  The 
refusal  of  any  such  company  or  association  to  submit  to  such 
examination  or  to  exhibit  its  books  and  records  for  inspection 
shall  be  presumptive  evidence  that  it  has  violated  the  provi- 
sions of  the  first  section  of  this  act,  and  shall  be  subject  to  the 
penalties  prescribed  and  imposed  by  this  act. 

Section  1919c  is  referred  to  in  sec.  1919g. 

1919d   (Sec    4,  ch.  190,  1899.) 

Report  concerning  re-insurance;  effect  of  not  making  re- 
port. 

Section  1919d.  Every  fire  insurance  company  or  associa- 
tion shall  annually  and  at  such  other  times  as  the  commissioner 
of  insurance  may  require,  in  addition  to  all  returns  now  by  law 
required  of  it  or  its  agents  or  managers,  make  a  return  to  the 
commissioner  of  insurance  in  such  form  and  detail  as  may  be 
prescribed  ])y  him,  of  all  reinsurance  or  cessions  of  risk  or 
liability  contracted  for  or  etfected  by  it,  whether  by  issue  of 
policy,  entry  or  bordereau,  general  participation  agreement 
or  by  excess  less  re -insurance,  or  in  any  other  manner  whatso- 
ever, upon  property  located  in  this  state,  or  covering,  whether 
specified  or  otherwise,  any  risk  or  liability  upon  property  so 
located,   such  return   to  be  certified  by  the   oath   of  its  presi- 


39  REINSURANCE.  1919e 

dent  and  secretary,  if  a  company  or  association  of  one  of  the 
United  States,  and,  if  a  company  or  association  of  a  foreign 
country,  by  the  oath  of  its  managers  in  the  United  States  as 
to  such  reinsurance  or  cessions  effected  through  its  branch 
office  in  the  United  States,  and  by  oath  of  its  president  and 
secretary,  or  by  officers  corresponding  thereto,  at  its  home 
office  wherever  located,  as  to  re- insurance  as  aforesaid  con- 
tracted for  or  effected  through  the  foreign  office.  The  refusal 
of  any  such  company  or  association  to  make  the  returns  herein 
required' shall  be  presumptive  evidence  that  it  is  guilty  of  vio- 
lating the  provisions  of  the  second  section  of  this  act,  and 
shall  subject  it  to  the  penalties  prescribed  and  imposed  by  this 
act. 

Section  1919d  is  referred  to  in  sec.  1919g.  Compare  sections  1905, 
1905a  and  1919c,  1919e. 

1919e  (Sec.  5,  ch.  190,  1899.) 

Penalty  for  violating    law;    non-payment    of    judgment. 

Section  191 9e.  Any  insurance  company  or  association  wil- 
fully violating  or  failing  to  observe  and  comply  with  any  of 
the  provisions  of  this  act,  applicable  thereto,  shall  be  subject  to 
and  liable  to  pay  a  penalty  of  five  hundred  dollars  for 
each  violation  thereof  and  for  each  failure  to  observe  and  com- 
ply with  any  of  the  provisions  of  this  act ;  such  penalty  may  be 
collected  and  i-ecovered  in  an  action  brought  m  the  aiame 
of  the  state  in  any  court  having  jurisdiction  thereof.  Any  in- 
surance company  or  association  which  shall  neglect  and  refuse 
for  thirty  days  after  judgment  in  any  such  action  to  pay  and 
discharge  the  amount  of  such  judgment  shall  have  its  authority 
to  transact  business  in  this  state  revoked  by  the  commissioner 
of  insurance  and  such  revocation  shall  continue  for  at  least  one 
year  from  the  date  thereof,'  nor  shall  any  insurance  company 
or  association  whose  authority  to  transact  business  in  this  state 
shall  have  been  so  revoked,  be  again  authorized  or  permitted 
to  transact  business  herein  until  it  shall  have  been  paid  the 
amount  of  any  such  judgment  and  shall  have  filed  in  the  office 
of  the  commissioner  of  insurance  a  certificate  signed  by  its 
president  or  other  chief  officer  to  the  effect  that  the  terms  and 
obligations  of  the  provisions  of  this  act  are  accepted  by  it  as 
a  part  of  the  conditions  of  its  right  and  authority  to  transact 
business  in  this  state. 

Section  1919e  is  referred  to  in  sections  1919c,  1919d,  1919g. 


1919f  UNAUTHORIZED  INSURANCE.  40 

'     Conflicting  laws  repealed.     (Sec.  7,  ch.  190,  1899.) 
All  acts  and  parts  of  act,  whether  general  or  special,  incon- 
sistent with  the  provisions  of  this  act  are  hereby  repealed. 

1919f  (Sec.  6,  ch.  190,  1899.) 
Unauthorized  risks;  penalty. 
Section  1919f.  Any  company  or  person  who  shall  solicit 
or  place  insurance  in  a  fire  insurance  company  not  authorized 
to  do  business  in  this  state,  shall,  in  the  event  of  the  failure, 
of  such  unauthorized  company  to  pay  any  claim  or  less  with- 
in the  policy  issued,  be  liable  to  the  insured  for  the  amount 
thereof  to  the  extent  that  such  company  would  have  been  liable ; 
and  such  company  or  agent  shall,  on  satisfactory  proof  of  vio- 
lation of  either  of  the  foregoing  provisions  made  to  the  com- 
missioner of  insurance,  have  its  or  his  authority  to  transact 
business  in  this  state  revoking  for  a  period  of  not  less  than 
ninety  days,  and  shall  not  again  be  permitted  to  do  business 
herein  until  all  liability  for  such  violation  shall  be  discharged 
and  the  provisions  of  these  statutes  concerning  the  admission  of 
foreign  fire  insurance  companies  to  do  business  in  this  staie 
be  complied  with.  Whenever  said  commissioner  shall  receive 
notice  of  the  violation  of  any  provision  of  this  section  he  shall 
forthwith  in  person  or  by  his  deputy,  visit  the  office  of  the 
company  or  any  insurance  agent  charged  with  such  violation, 
and  demand  an  inspection  of  the  books  and  records  thereof; 
and  any  company  or  such  agent  refusing  to  permit  such  in- 
spection shall  be  deemed  guilty  of  violating  this  section,  and 
such  commissioner  shall  enforce  the  penalties  herein  provided 
against  the  same. 

1919g  (Sec.  1,  ch.  344,  1899.) 

Construction   of   foregoing  provisions   concerning   re-in- 
surance. 

Section  1919g.  Nothing  contained  in  chapter  190,  laws  of 
Wisconsin  for  the  year  1899,  shall  be  construed  as  preventing 
any  insurance  company  which  has  lawfully  issued  a  policy  of 
insurance  upon  property  within  this  state,  from  reinsuring 
said  risk  or  any  portion  thereof,  in  any  authorized  company 
without  having  said  policy  of  reinsurance  signed  by  a  local 
agent  in  this  state. 


41  FIRE  COMPANY  REPORTS.  1920 


REPORTS. 

1920  a898.  eh.  181,  1905.) 

When  to  be  made;  contents. 

Section  1920.  The  president  or  vice-president  and  secre- 
tary of  each  fire,  inland  naviajation  or  transportation  insurance 
corporation,  except  mutual  fire  insurance  corporations  organ- 
ized urider  the  laws  of  this  state  and  licensed  to  do  business 
therein,  shall  annually  within  the  month  of  January,  prepare 
and  deposit  in  the  oflfice  of  the  commissioner  of  insurance  a 
statement,  verified  by  their  oaths,  of  the  business  of  the  cor- 
poration during  the  year  and  the  condition  thereof  on  the  thir- 
ty-first day  of  December  then  next  preceding,  exhibiting  the 
following  items: 

First.     The  amount  of  the  capital  stock  of  the  corporation. 

Second.  The  property  or  assets  of  the  corporation,  speci- 
fying : 

1.  The  value  as  near  as  may  be,  of  the  real  estate  held  by 
such  corporation. 

2.  The  amount  of  cash  on  hand  in  such  corporation's  oiSce 
and  also  the  amount  deposited  in  bank  to  the  credit  of  such 
corporation,  and  specifying  in  what  bank  or  banks  the  same 
is  deposited. 

3.  The  amount  of  loans  secured  by  bonds  or  mortgages,  con- 
stituting the  first  lien  on  real  estate  on  which  there  shall  be 
less  than  one  year's  interest  due  or  owing. 

4.  The  amount  of  loans  on  which  interest  shall  not  have 
been  paid  within  one  year  previous  to  such  statement. 

5.  The  amount  due  the  corporation  on  which  judgments 
have  been  obtained. 

6.  The  amount  of  stocks  of  this  state  of  the  United  States 
of  anv  incorporated  city  of  this  state  and  of  any  other  stocks 
owTied  by  the  corporation,  specifying  the  amount,  number  of 
shares  and  the  par  and  market  value  of  each  kind  of  stock  so 
held. 

7.  The  amount  of  stocks  held  thereby  as  collateral  security 
for  loans  with  the  amount  loaned  on  each  kind  of  stock,  its 
p:^r  value  and  market  value. 

8.  The  am.ount  of  the  assessments  on  stocks  or  premium 
notes,  paid  and  unpaid. 

9.  The  amount  of  interest  actually  due  and  unpaid. 

10.  The  amount  of  premium  notes  on  hand  on  which  policies 
are  in  force. 


1920  FIRE  COMPANY  REPORTS.  42 

11.  The  amount  and  the  manner  of  the  investment  of  its 
"uaranty  surplus  fund,  if  any. 

12.  The  amount  and. manner  of  the  investment  of  the  special 
reserve  fund,  if  any. 

Third.     The  liabilities  of  such  corporation,  specifying: 

1.  The  amount  of  losses  due  and  unpaid. 

2.  The  amount  of  claims  for  losses  resisted  by  the  corpora- 
tion. 

3.  The  amount  of  losses  incurred  during  the  year,  includini? 
tho'^e  claimed  and  not  yet  due  and  those  reported  to  the  cor- 
poration upon  which  no  action  has  been  taken. 

4.  The  amount  of  dividends  declared  due  and  unpaid. 

5.  The  amount  of  dividends,  either  cash  or  script,  declared 
not  yet  due. 

6.  The  amount  of  money  borrowed  and  security  given  for 
the  payment  thereof. 

7.  The  amount  required  to  reinsure  all  outstanding  risks. 

8.  The  amount  of  all  other  existing  claims  against  the  cor- 
poration. 

Fourth.  The  income  of  the  corporation  during  the  preced- 
ing year,  specifying: 

1.  The  amount  of  interest   money  received, 

2.  The  amount  of  cash   premiums  received. 

3.  The  an^ount  of  notes  received  for  premiums. 

4.  The  amount  of  income  received  from  other  sources. 

5.  The  amount  received  in  cash  premiums  for  insuring  prop- 
erty in  this  state. 

•6.  The  amount  received  in  premium  notes,  in  cash  notes,  and 
the  amount  received  from  other  sources  in  this  state. 

Fifth.  The  expenditures  during  the  preceding  year,  speci- 
fying: 

1.  The  amount  of  losses  paid  during  the  year,  stating  how 
much  accrued  prior  and  how  much  subsequent  to  the  date  of 
the  preceding  statement. 

2.  The   amounts  of  dividends  paid  during  the  year. 

3.  The  amount  of  expenses  during  the  year,  stating  the 
amount  paid  officers,  salaries  and^fees ;  the  amount  paid  agents 
commissions  and  fees,  and  the  amount  paid  for  office  expenses 
and  rent;  the  amount  paid  for  taxes,  and  the  amount  of  all 
other  payments  and  expenditures. 

4.  The  amount  paid  in  this  state  for  salaries,  commissions  to 
agents  and  for  losses. 

Sixth.  Any  other  items  or  facts  which  the  commissioner  of 
insurance  may  require. 

The   statement   of  (>very    such   corporation   whose   capital   is 


43  LOCAL  BOARDS.  1921 

composed  in  whole  or  in  part  of  notes  shall  show  the  amount 
of  notes  originally  forming  such  capital  and  what  portion  of 
them  is  still  held  by  such  corporation  and  considered  capital. 
The  statement  of  any  such  foreign  corporation  shall  set  forth 
its  business  and  affairs  in  the  United  States,  duly  verified  by 
its  resident  manager  in  the  United  States  For  any  failure  to 
make  and  deposit  such  annual  statement  or  to  promptly  reply 
in  writing  to  any  inquiry  addressed  by  the  commissioner  of 
insurance  in  relation  to  the  business  of  any  such  corporation 
or  for  wilfully  making  any  false  statement  therein,  every  cor- 
poration or  officer  so  failing  or  making  such  false  statement 
shall  pay  to  the  state  a  fine  of  five  hundred  dollars,  and  for 
neglecting  to  file  such  annual  statement  an  additional  five  hun- 
dred dollars  for  every  month  that  such  corporation  shall  con- 
tinue thereafter  to  transact  any  insurance  business  in  this  state 
until  such  statement  be  filed. 

Section  1920  is  referred  to  in  section  1915  (5). 

1921 

Receivers  and  trustees  to  make  report. 

Section  1921.  All  receivers  and  trustees  of  any  such  insur- 
ance corporation  shall,  in  the  month  of  January  in  each  year 
and  at  any  other  time  when  requested  by  the  commissioner  of 
insurance  make  and  file  annual  and  other  statements  of  their 
assets  liabilities  and  of  their  income  and  expenditures  in  the 
same  manner  and  form  as  the  officers  of  such  corporations  are 
required  by  law  to  do  and  under  the  same  penalties  for  failure 
or  neglect  so  to  do. 


BOARDS  OF  FIRE  UNDERWRITERS  AND  FIRE  PATROL. 

1922 

Incorporation. 

Section  1922.  Any  three  or  more  agents  or  underwriters 
lawfully  doing  the  business  of  fire  insurance  in  any  city  of  this 
state,  may  be  incorporated  as  a  board  of  underwriters  in  such 
city  under  the  provisions  of  chapter  86  for  the  usual  purposes 
for  which  such  boards  are  established. 

1923 

Fire  patrol;  duties. 
Section  1923.     Any  incorporated  board  of  fire  underwriters 
may  establish   a  fife  patrol   in  any  city  wherein   it   is  located 
and  for  that  purpose  may  appoint  and  remove  at  pleasure  a 


1924  LOCAL  BOARDS.  44 

superintendent  and  such  number  of  patrols  as  they  shall  deem 
proper  and  provide  suitable  accommodations  and  apparatus  for 
such  patrol,  and  from  time  to  time  make  all  needful  rules  and 
regulations  for  the  government  and  direction  thereof;  the  duty 
of  such  patrol  shall  be  to  discover  and  prevent  fires  and  to 
save  and  preserve  life  and  property  at  and  after  fires  and  for 
that  purpose  full  power  is  given  to  such  superintendent  and 
patrol  to  enter  any  building  on  fire  or  which  may  be  exposed 
to  or  be  in  danger  of  taking  fire  from  other  burning  buildings 
subject  to  the  control  of  the  chief  of  the  fire  department  of 
the  city,  and  to  remove  such  property  or  any  part  thereof  at 
or  immediately  after  a  fire  and  to  guard  and  protect  the  same. 

1924:  (1898,  sec.  1,  ch.  144,  1901.) 
Meeting  of  underwriters. 

Section  1924.  For  the  purpose  of  establishing  and  defray- 
ing the  necessary  expenses  of  such  fire  patrol  there  shall  be  a 
meeting  of  the  said  board  of  fire  underwriters  in  the  month 
of  January  in  each  year;  prior  notice  of  such  meeting,  speci- 
fying the  time  and  place  at  which  it  will  be  held,  shall  be  in- 
serted for  at  least  ten  days  in  one  daily  newspaper  published 
in  the  city  where  such  board  is  located;  at  such  meeting  each 
insurance  corporation,  agent  or  person  doing  a  fire  insurance 
business  in  such  city  shall  have  the  right  to  be  present  and 
each  corporation  represented  shall  be  entitled  to  one  vote. 
Such  meeting  may  determine  whether  such  fire  patrol  shall  be 
established,  or  continued  if  established,  and  fix  the  maximum 
amount  of  expenses  which  shall  be  incurred  therefor  during 
the  ensuing  year;  but  such  maximum  amount  shall  not  in  any 
one  year  exceed  two  per  cent  of  the  aggregate  amount  of 
premiums  for  fire  insurance  received  in  such  city  during  such 
year. 

1925  (1898;  sec.  2,  ch.  144,  1901.) 
Expenses  of  patrol. 

Section  1925.  On  the  first  day  of  February  in  each  year 
each  insurance  corporation,  underwriter  or  agent  doing  any 
fire  insurance  business  in  such  city  shall  furnish  to  said  board 
a  statement,  verified  by  affidavit,  of  the  aggregate  amount  of 
premiums  received  for  insuring  property  in  such  city  during 
the  year  endiuQf  on  the  next  preceding  first  dav  of  January. 
Upon  the  statement  so  furnished  said  board  shall  assess  the 
amount  fixed  as  aforesaid  for  the  expenses  of  said  fire  patrol 
for  the  current  year  upon  the  several  corporations,  underwrit- 


45  FIRE  DEPARTMENT  TAX.  1926 

ers  or  agents,  in  proportion  to  the  amount  of  the  premiums 
returned,  as  received  by  each,  and  such  assessmenis  may  be 
recovered  by  action  in  the  name  of  such  board,  if  any  such 
!^tatements  shall  not  be  made  as  above  required,  said  board 
shall  cause  a  demand  in  writing  to  be  served  on  the  corpora- 
tion, underwriter  or  agent  so  failing  to  make  such  sworn  state- 
ment. Such  demand  shall  be  served  by  leaving  the  same  dur- 
ing business  hours  at  its  or  his  office  with  the  person  in 
charge  thereof,  and  every  such  corporation,  underwriter  or 
agent  who  shall  wilfully  make  false  statement  or  who  shall, 
for  fifteen  days  after  such  demand  neglect  to  render  such 
statement  shall  forfeit  fifty  dollars  and  an  additional  fifty 
dollars  for  each  day's  neglect  after  the  expiration  of  said  fif- 
teen days,  one-half  to  the  use  of  said  board,  when  it  shall- 
prosecute  therefor. 


DUTIES  TO  BE  PAID. 

1926  (1898,  xjh.  32,  1899.) 

For  fire  departments;  liability  of  insured;  action  to  re- 
cover. 

Section  1926.  There  shall  be  paid  on  the  first  day  of  Feb- 
ruary in  each  year  to  the  treasurer  of  any  city  or  village,  or 
town  containing  an  unincorporated  village,  having  or  main- 
taining a  regularly  organized  fire  department,  as  hereinafter 
provided,  for  the  support  and  maintenance  of  such  fire  depart- 
ment, by  every  underwriter  who  shall  effect  any  fire  insurance 
and  by  every  person  who  shall  act  as  agent  for  any  fire  insur- 
ance corporation  or  underwriter  in  such  city,  village  or  town 
a  duty  of  two  percentum  upon  the  amount  of  all  premiums 
which,  during  the  year  or  part  of  a  year  ending  on  the  next, 
preceding  first  day  of  January,  shall  have  been  received  by 
such  underwriter  or  agent  or  by  any  other  person  for  him, 
or  shall  have  been  agreed  to  be  paid  for  any  insurance  effected 
or  agreed  to  be  effected  or  promised  by  him  as  such  agent  or 
otherwise,  against  loss  or  injury  by  fire  in  any  such  city  or 
village,  or  town  containing  an  unincorporated  village.  And 
no  person  shall,  in  any  such  city,  .village  or  town,  as  under- 
writer, agent  or  otherwise,  effect  or  agree  to  effect,  or  procure 
to  be  effected  any  insurance  upon  which  the  above  duty  is  re- 
quired to  be  paid  until  he  shall  have  executed  and  delivered 
to  such  treasurer  a  bond  in  the  sum  of  one  thousand  dollars 
with  such  sureties  as  such  treasurer  shall  approve,  conditioned 


1926  FIRE  DEPARTMENT  TAX.  46 

that  he  will  render  to  such  treasurer  ou  the  lirst  day  of  each 
l*  ebruary  a  just  and  true  aeeount,  verihed  by  his  altidavit,  oi 
all  premiums  which,  during  the  year  enamg  on  the  lirst  day 
01  ejanuary  preceding  such  report,  shall  have  been  received  by 
him  or  any  other  person  tor  lum,  or  agreed  to  be  paid  for  any 
insurance  against  loss  or  injury  by  fire  in  any  such  city,  vil- 
lage or  town  which  shall  have  been  effected  or  agreed  to  be 
effected  by  him,  and  that  he  will  on  the  first  day  of  each  Feb- 
ruary, pay  to  the  said  treasurer  two  per  centum  upon  the  fuli 
amount  of  such  premiums.  Every  person  who  shall  effect  or 
agree  to  eft'ect  any  ffre  insurance  in  any  such  city,  village  or 
town  without  having  executed  and  delivered  such  bond  or  who 
shall  wilfully  omit  to  pay  such  duty  shall,  for  each  offense,  for- 
feit one  hundred  dollars,  which  snail  be  paid  into  the  treasury 
for  the  support  and  maintenance  of  such  ffre  department,  in 
case  the  ffre  department  of  such  city,  village  or  town  be  a 
voluntary  department,  or  part  paid,  or  either,  having  a  treas- 
urer or  treasurers,  all  moneys  received  or  collected  by  virtue 
of  this  section  shall  be  paid  to  the  treasurer  of  such  depart- 
ment for  the  support  and  maintenance  thereof  exclusively. 
No  city,  village  or  town  shall  be  entitled  to  such  duty  unless 
it  shall  have,  support  or  maintain  a  ffre  department  consisting. 
in  case  of  a  voluntary  department,  of  at  least  one  fire  engine 
company  with  not  less  than  ten  active  inembers,  having  at 
loasl  i>r)e  good  fire  engine  and  not  less  than  five  hundred  feet 
oi*  sound  rubber,  leather  or  other  hose  kipt  'n  an  engine  house 
fit  and  ready  at  all  times  for  actual  service,  and  at  least  one 
hook  and  ladder  company,  wnth  not  less  than  twelve  active 
members,  having  a  good  hook  and  ladder  truck,  and  each  such 
company  shall  hold  a  meeting  at  least  once  a  month,  and  in 
case  of  a  paid  or  partly  paid  fire  department,  the  buildings 
machinery  and  materials  hereinbefore  enumerated  and  the 
necessary  men,  teams  and  equipment  to  constitute  an  active 
and  properly  equipped  department,  ready  for  service  at  all 
times,  l^ut  in  case  any  city,  village  or  town  shall  have  and 
maintain  a  system  of  waterworks-^vith  sufficient  pressure  for 
fire  purposes,  with  one  or  more  hose  companies  of  not  less  than 
ten  active  members,  each  having  not  less  than  five  hundred 
feet  of  sound  rubber,  leather  or  other  hose,  with  one  or  more 
hose  carts  kept  fit  and  ready  at  all  times  for  actual  service 
such  city,  village  or  town  shall  not  be  required  to  maintain  a 
fire  engine  and  the  fire  department  shall  be  entitled  to  receive 
the  two  per  centum  named  in  this  section.  If  any  such  under- 
writer or  agent  shall  fail  to  file  the  bond  or  make  the  report 


47  TOWN  MUTUALS.  1927 

ur  payment  herein  provided  ior  liie  coinmisciioner  ui  insurance 
snail,  upon  satisiactory  proot  tiiereoi,  nociiy  tne  company  rep- 
resentea  by  sucli  unaerwriier  or  agenc  that  he  is  in  aeiauit 
and  tliat  ii  sucn  deiault  continues  lor  thirty  days  after  the 
uate  ot  such  notice  he  win  revoke  ilie  license  oi  such  company 
and  all  ot  its  agents  to  do  Dusiness  in  this  state  lor  the  unex- 
pired portion  of  the  year,  and  at  me  expiration  ot  such  time 
he  shall  revoke  all  o±  sucli  licenses  and  shall  not  renew  tlieni 
or  any  ot  them  so  long  as  such  ueiault  continues.  The  owner. 
ot  any  property  situated  m  any  city,  village  or  town  within 
this  section  who  shall  insure  me  same  in  any  company  not 
authorized  to  do  business  in  this  state,  or  in  any  company 
authorized  to  do  business  in  this  siate  out  tarough  agents  or 
persons  not  residing  in  such  city,  village  or  town,  and  who 
has  not  complied  with  the  provisions  of  this  section  in  regard 
to  filing  bond  shall  be  liaule  to  the  city,  village  or  tow^n  in 
which  such  property  is  situated  for  the  percentage  of  pre- 
miums on  the  insurance  on  such  property,  and  such  percent- 
age may  be  recovered  in  a  civil  action  brought  in  the  name  of 
the  city,  village  or  town  the  fire  department  of  which  is  en- 
titled thereto ;  and  all  actions  to  recover  such  percentage  may 
be  so  brought. 

TOWN  MUTUAL  COMPANIES. 

1927  (1898,  ch.  202,  1901;  ch.  439,  1907.) 
Organization. 
Section  1927.  1.  Any  number  of  persons,  not  less  than 
twenty-five,  residing  in  the  same  to\Vn  or  in  adjoining  towns 
not  exceeding  thirty  in  number,  except  in  cases  where  any 
county  contains  a  larger  number,  when  all  the  towns  therein 
may  be  included,  who  collectively  own  insurable  property  of 
not  less  than  twenty-five  thousand  dollars  in  v.ilue  which  they 
desire  to  have  insured,  may  form  themselves  into  a  corpv)ra- 
tion  for  mutual  insurance  against  loss  or  damage  by  fire  of 
lightning  by  complying  with  the  following  conditions  namely: 
They  shall  sign  articles  of  organization  which  shall  be  sub- 
stantially in  the  following  form: 

Articles;  form. 

2  The  undersigned  residents  of  the  town  below  named  and 
owners  of  more  than  twenty-five  thousand  dollars'  worth  of 
property  therein  which  we  desire  to  insure,  do  hereby  asso- 
ciate  for   the    purpose    of   forming   a    mutual    fire    insurance 


1927  TOWN  MUTUALS.  48     \ 

corporation  to  do  sucli  insurance  m  the  towns  o±  inhere  insert 
the  names  ot  each  town  in  Which  such  corporation  proposes 
to  do  business  and  the  names  oi  the  counties  in  wnich  the^^ 
are  situated;,  under  the  provisions  ot  seeiions  19257  to  1941, 
inclusive,  of  the  Wisconsin  statutes.  Ihe  name  of  such  cor- 
poration shall  be  the (give  name  at  length; 

The  ohicers  shall  be  a  board  of  directors.  . . . 

(insert  number,  not  less  than  live  nor  more 

than  eleven),  a  president,  secretary  and  treasurer  and  such 
others  as  may  be  provided  for  in  the  by-laws  of  such  corpora- 
tion, and  the  office  of  such  corporation  shall  be  in  the  town 
from  which  said  directors  shall  elect  their  secretary,  in  the 

county  of The  following  named  persons  shall 

constitute  the  first  board  of  directors  and  shall  hold  their  re- 
spective offices  for  one  year  and  until  their  successors  are 
elected  (here  insert  the  names).     In  witness  whereof  we  have 

hereunto  subscribed  our  names,  this 

day  of A.  D.  190 

1927  (S)    (Ch.  31,  1909,  in  effect  April  2,  1909.) 

Articles  of  organization;  amendment;  filing;  recording. 

3.  Such  articles  of  organization  shall  be  subscribed  by  at 
least  tw^enty-five  persons,  residents  of  the  towns  therein  named, 
who  are  owners  of  at  least  twenty-five  thousand  dollars'  worth 
of  property  which  shall  be  insured  by  such  corporation.    *    *    * 

a.  Two  copies  of  the  original  articles,  each  accompamed  hy 
the  affidavit  of  two  of  the  signers  thereof  stating  that  they  are 
personally  acquainted  with  the  signers  and  know  them  to  he 
the  owners  of  property  to  the  amount  stated  in  said  articles, 
which  may  he  insured  for  said  sum,  and  that  such  copy  is  a 
true  and  complete  copy  of  the  original'  articles  of  organization, 
shall  he  forwarded  to  the  commissioner  of  insurance,  and  if 
approved  hy  him  and  the  attorney-general,  the  former  shall  file 
one  copy  in  his  office  and  attach  to  the  other  copy  his  certificate 
of  such  filing.  Such  certified  copy  shall  within  thirty  days 
he  recorded  in  the  office  of  the  re,gister  of  deeds  of  the  county 
in  which  the  greater  numher  of  the  directors  named  in  so/id 
articles  reside.  The  register  of  deeds  shall  forthwith  trans- 
mit to  the  commissioner  of  instance  his  certificate  stating  the 
time  and  place  when  such  copy  was  recorded,  and  shall  he 
entitled  to  a  fee  of  twenty-five  cents  therefor  to  he  paid  hy  the 
person  presenting  the  same  for  record.  Upon  the  receipt  of  such 
certificate  the  commissiotier  of  insurance  shall  issue  a  certificate 
of  incorporation. 

h.  Thereupon    the  persons    subscribing  said    articles,    and 


49  TOWN  MUTUALS.  1927 

such  as  shall  afterwards  become  insured  thereby,  shall  be  a 
corporation  by  the  name  mentioned  in  said  articles  with  the 
usual  powers  and  subject  to  the  usual  duties  and  liabilities 
of  a  corporation  for  tlie  purpose  hereinafter  mentioned. 

c.  ike  articles  of  organization  may  be  atnended  by  a  resolu- 
tion adopted  by  four-fijtiui  of  the  votes_  cast  at  any  annual  or 
special  meeting.  A  notice  reciting  the  proposed  amendment 
bfiall  be  given  by  mail  to  the  members  at  least  thirty  days  prior 
to  the  adoption  of  any  such  amendment.  The  secretary  shall 
give  such  notice  upon  request  therefor  by  ten  or  more  members, 
within  ten  days  after  the  adoption  of  such  amendment  two 
copies  thereof  and  the  minutes  sJwwing  the  vote  by  which 
adopted,  and  of  tlie  affidavit  of  the  secretary  of  the  mailing 
of  such  notive,  verified  as  such  oy  the  affidavit  of  the  president 
and  secretary  shall  be  forwarded  to  the  commissioiner  of  in- 
surance, and  if  approved  by  him  and  by  the  attorney-general, 
the  former  shall  file  one  copy  in  his  office  and  attach  to  the 
other  copy  his  certificate  of  such  filing.  Such  certified  copy 
shall  be  recorded  as  provided  for  the  articles  of  organization 
and  a  like  certificate  made  by  tJie  register  of  deeds. 

1927  (1898,  ch.  202,  1901;  ch    439,  1907.) 
Name. 

4.  The  words  "Town  Insurance  Company"  shall  form  part 
of  the  name  of  every  such  corporation  hereafter  organized, 
and  no  corporation  not  organized  under  this  section  shall  be 
entitled  to  use  a  name  embodying  said  words,  except  that  cor- 
porations now  existing  may  continue  their  present  names. 

Change  of  name. 

5.  Corporations  organized  under  this  section  may  change 
•their  name  to  conform  thereto. 

Division  of  towns. 
6    The  subsequent  division  of  the  territory  of  the   towns 
mentioned  in  the  articles  into  new  towns  shall  not  impair  any 
power,  duty  or  liability  of  such  corporation. 

Copies  furnished  commissioner. 
7.  A  copy  of  the  articles,  by-laws,  policy,  and  of  each  blank 
used  by  any  such  company  shall  be  furnished  to   and  filed 
and  preserved  by  the  commissioner  of  insurance. 

Section  1927  is  referred  to  in  sections  1941a-3,  1946n. 
4-1.  h. 


1928  TOWN  MUTUALS.  50 

1928  (1898,  ch.  81,  1901.) 

iiiiection  ana  ciasaincation  ol  directors. 

{SECTiuJs  19z8.  ine  airecturs,  suusequeiit  to  the  tirst  board 
shall  be  chosen  by  ballot  at  tne  annual  meeting  oi  the  cor- 
poration, wliich  shall  De  held  on  the  tirst  Tuesaay  alter  tne 
ilrst  Monaay  u±  January,  unless  some  other  day  be  hxed 
theretor  by  a  majority  ot  votes  of  such  corporation;  and  every 
person  insured  shall  have  one  vote  lor  each  two  hundred  dol- 
lars for  which  he  is  insured,  sa  such  election  and  in  the  trans- 
action of  all  other  business  of  the  corporation.  But  no  per- 
son shall  vote  by  proxy  except  women,  and  no  person  shall 
have  the  right  to  vote  more  than  one  proxy.  The  corporation 
may,  by  a  two-thirds  vote  at  any  annual  meeting,  adopt  a  reso- 
lution providing  that  its  board  of  directors  shall  consist  of 
nine  persons;  that  they  shall  be  divided  into  three  classes  of 
three  persons  each,  and  be  designated  as  the  first,  second  and 
third  classes.  Thereafter  the  directors  of  the  first  class  shall 
be  elected  for  one  year,  those  of  the  second  class  for  two  and 
those  of  the  third  class  for  three  years,  and  in  each  case 
until  their  successors  are  qualified,  and  thereafter  all  elec- 
tions shall  be  for  three  years,  except  that  vacancies  shall  be 
filled  for  the  unexpired  term. 

1929  (1898,  ch.  168,  1899.) 

Directors'  terms;  officers;  records;  place  of  meeting. 
Section  1929.  The  directors  shall,  unless  the  corporation 
otherwise  direct,  in  accordance  with  the  preceding  section 
hold  their  office  for  one  year  and  until  their  successors  are 
elected.  They  shall  choose  from  their  number  a  president, 
secretary  and  a  treasurer,  the  latter  of  whom  may  be  chosen 
from  members  of  the  company,  and  keep  a  record  of  all  their 
proceedings  in  a  book  kept  for  that  purpose,  together  with  the 
names  and  places  of  residence  of  all  presons  insured  and  the 
amount  for  which  each  is  insured,  which  shall  be  open  for  in- 
spection of  all  members  of  the  corporation  from  nine  o'clock 
in  the  forenoon  to  four  o'clock  i^  the  afternoon  of  such  days 
of  each  week  as  may  be  determined  by  its  annual  meeting. 
The  board  of  directors  may  change  the  place  of  the  annual 
meeting  of  the  corporation  to  any  town  inside  the  boundary 
of  its  corporate  limits  notwithstanding  its  by-laws  may  des- 
i;,nate  some  particular  town  as  the  place  for  holding  such 
meeting. 


51  TOWN  MUTUALS.  1930 

1930 

Treasurer's  bond. 

Section  1980.  Tho  treasurer,  before  entering  upon  the 
duties  of  his  office,  shall  execute  to  such  corporation  and  file 
with  the  secretary  a  bond  conditioned  for  the  faithful  dis- 
charge of  the  duties  of  his  office,  with  two  or  more  securities  in 
such  sum,  not  less  than  five  thousand  dollars,  as  the  directors 
may  order,  such  bond  and  sureties  to  be  approved  by  the  presi- 
dent and  a  majority  of  the  directors. 

1931  (1898,  ch.  352,  1903;  ch.  36,  1905;  ch.  442,  1907.) 
Location  of  risks. 
Section  1931.  1.  Xo  such  corporation  shall  insure  any 
property  out  of  the  town  or  towns  in  which  it  is  located ;  pro- 
vided that  it  may,  at  its  annual  meeting,  authorize  its  direct- 
ors to  insure  any  farm  property  or  detached  dwelling  house 
and  contents  in  any  adjoining  city  or  village,  town  or  towns 
or  in  any  city  or  incorporated  village  which  is  located  in  such 
town  or  towns. 

1931(2)     (1898,  ch.  353,  1903;  ch.  36,  1905;  ch.  442,  1907;  ch. 
99,  1909,  in  effect  May  11,  1909.) 
Risks;  kind;  single,  maximum. 

2.  No  such  corporation  shall  insure  any  property  other  than 
detached  dw^ellings  and  their  contents,  farm  buildings  and  their 
contents,  live  stock  in  possession,  u>:e  or  running  at  large,  farm 
products  on  premises  and  farming  tools,  implements  and  machin- 
ery; *  «  *  providing  that  it  may,  wJien  its  directors  shall 
Ik  so  authorized  at  any  annual  meeting,  insure  property  in  any 
of  the  following  classes,  in  an  amount  not  exceeding  thirty-five 
hundred'  dollars  on  any  si)igle  risk,  towit:     (1)   country  stores 

*  *.  (5)  school  houses     *     *■   *.  (5)  town  and  society  halls 

*  *,  (4)  churches  *  *  =*  (,/})  country  hotels  *  *  *^ 
I  6)  water  mills  *  '*  *,  (7)  blacksmith  shops,  (8)  cheese  fac- 
tories ^  *  *^  (p)  creameries,  and  *  *  *  the  contents  of 
tiny  such  hiiildings.     *     *     * 

May  assume  cyclone  risk,  when. 

3.  And  it  may  at  such  time  authorize  its  directors  to  insure 
nny  of  the  classes  of  property  herein  mentioned  against  damage 
or  loss  by  wnnd  storms,  cyclones  and  tornadoes,  under  the  same 
rules  and  restrictions  as  relate  to  insurance  by  it  against  dam- 
;  're  or  loss  by  fire;  provided,  that  a  request  in  writing,  signed  by 
;it  least  ten  members  of  the  corporation,  be  filed  with  the  secre- 


1931a  TOWN  MUTUALS.  52 

tary  at  least  thirty-five  days  before  the  next  annual  meeting  of 
the  corporation  requesting  that  the  question  of  insuring  against 
damages  or  loss  by  wind  storms,  cyclones  and  tornadoes  be  sub- 
mitted at  such  meetings,  and  that  the  secretary  give  thirty  days' 
notice  by  mail  to  each  member  of  the  corporation  at  his  post- 
office  address,  that  said  question  will  be  submitted  at  such  meet- 
ing. 

Section  1931  is  referred  to  in  sections  1932,  1941a-3. 

1931a  (Ch.  153,  1909,  in  effect  May  19,  1909.) 
Reinsurance. 

Section  1.  Section  1931a  of  the  statutes  is  amended  to  read: 
Section  1931a.  Any  such  corporation  may,  at  any  annual  meet- 
ing or  special  meeting  thereof  convened  for  that  purpose,  author- 
ize its  board  of  directors  to  effect  reinsurance  in  some  other  town 
insurance  company  of  this  state,  doing  business  in  the  same  or 
adjoining  territory  and  in  like  manner  to  re-insure  similar  risks 
of  any  other  such  corporation. 


Terms  of  policies;  approval  of  form. 

Section  1932.  The  board  of  directors  may  issue  policies 
signed  by  the  president  and  secretary,  agreeing  in  the  name 
of  the  corporation  to  pay  to  the  insured  all  loss  or  damage  of 
and  to  the  property  mentioned  and  described  therein  w^hich 
may  be  occasioned  by  either  of  the  causes  mentioned  in  sec- 
tion 1931,  and  providing  for  such  conditions  of  insurance  as 
may  be  deteiii^ined  by  the  by-law^s  of  such  corporation  or  by 
the  resolutions  of  its  annual  meeting ;  but  no  such  corporation 
shall  make  or  execute  any  policy  until  the  blank  form  for  the 
same  shall  have  been  submitted  to  and  approved  by  the  com- 
missioner of  insurance ;  provided,  that  no  such  company  shall 
be  required  to  use  the  standard  policy;  and  the  said  board  or 
a  committee  of  not  less  than  three,  at  least  tv^o  of  v^hom  shall 
be  directors,  or  the  corporation  may  classify  the  property  in- 
sured at  the  time  of  issuing  policies  thereon  under  different 
rates,  corresponding  as  near  as  may  be  to  the  greater  or  less 
risk  M^hich  may  attach  to  such  property. 

1933 

Liabilities  of  members. 

Section  1933  Every  person  to  vrhom  any  such  policy  is 
issued  shall  be  deemed  a  member  of  such  corporation,  and 
shall  give  his  undertaking,  bearing  even  date  vrith  such  policy 


53  TOWN  MUTUALS.  1934 

binding  himself,  his  heirs,  and  assigns  to  pay  his  pro  rata 
share  to  the. corporation  of  all  losses  or  damages  which  may 
be  sustained  by  any  member  thereof,  and  of  its  necessary 
business  expenses,  together  with  all  legal  costs  and  charges 
incurred  in  case  legal  proceedings  are  commenced  to  collect 
any  assessment  made  upon  him;  and  every  such  undertaking 
shall,  within  ten  days  after  its  acceptance,  be  filed  in  th3 
office  of  the  secretary  and  shall  remain  on  file  in  such  office 
except  when  required  to  be  produced  in  court  as  evidence. 
He  shall  also  at  the  time  of  effecting  such  insurance,  pay 
such  percentage  in  cash  and  such  reasonable  sums  for  a  policy 
as  may  be  required  by  the  rules  or  by-laws. 

1934 

Notice  and  adjustment  of  loss. 

Section  1934.  Every  member  of  such  corporation  who  may 
sustain  loss  or  damage  from  any  cause  insured  against  shall 
immediately  notify  the  president,  or  in  his  absence  the  secre- 
tary thereof,  who  shall  forthwith  convene  the  directors,  whose 
duty  it  shall  be  when,  so  convened  to  appoint  a  committee  of 
not  less  than  three  nor  more  than  five  members  of  such  cor- 
poration, except  in  case  the  loss  is  supposed  to  be  less  than 
three  hundred  dollars  when  the  president  and  secretary  may 
appoint  such  committee,  to  ascertain  the  amount  of  such  loss 
or  damage ;  provided,  that  when  any  loss  or  damage  does  not 
exceed  one  hundred  dollars  the  president  and  secretary  may 
in  their  discretion,  adjust  the  same  without  the  appointment 
of  any  such  committee;  and  provided  further,  that  the  board 
of  directors  may  appoint  a  committee  of  not  less  than  three 
members  of  the  corporation  for  the  adjustment  of  all  losses 
that  may  occur  during  the  year;  and  in  case  of  the  inabilities 
of  the  parties  to  agree  upon  the  amount  of  such  loss  or  dam- 
ages the  claimant  may  appoint  one  disinterested  person  on  his 
part,  and  upon  receiving  notice  from  such  claimant  of  such 
appointment  the  president  of  the  corporation  shall  forthwith 
appoint  a  member  of  such  corporation,  and  the  two  persons 
so  appointed  shall  forthwith  proceed  to  appoint  a  thirkj  per- 
son who  shall  be  disinterested,  and  the  three  persons  so  ap- 
pointed shall  constitute  a  committee  of  reference,  who  shall 
have  full  authority  to  examine  witnesses  and  determine  all 
matters  in  dispute,  and  shall  make  their  award  to  the  presi- 
dent, or  in  his  absence  to  the  secretarv  of  such  corporation 
which  award  thereon  shall  be  final.  The  said  committee  of 
reference  shall  each  be  allowed  two  dollars  per  day  for  each 


1935  TOWN  MUTUALS.  54 

day 's  service  so  rendered  and  five  cents  per  mile  for  each  mile 
necessarily  traveled  in  the  discharge  of  such  duties,  which 
shall  be  paid  by  the  claimant,  unless  the  award  of  said  com- 
mittee shall  exceed  the  sum  offered  by  the  corporation  in 
liquidation  of  such  loss  or  damage,  in  which  case  the  said 
expense  shall  be  paid  by  said  corporation.  Before  entering 
upon  their  duties  each  member  of  said  committee  shall  be 
duly  sworn  to  faithfully  and  impartially  discharge  the  duties 
thereof.  The  secretary  of  any  such  corporation  may  admin- 
ister any  oaths  and  take  any  acknowledgments  necessary  to 
adjust  claims  against  his  company;  provided,  that  he  shall 
receive  no  compensation  for  such  service. 

Section  1934  is  referred  to  in  sections  1941a-3,  1941-8. 

1935   (1898,  ch.  457,  1907.) 

Assessments;   notices;    fees;   neglect  to   pay;    borrowing 
moneys. 

Section  1935.  "Whenever  the  amount  of  any  loss  so  ascer- 
tained shall  exceed  the  amount  of  the  cash  funds  of  the  cor- 
poration the  president  shall  convene  the  board  of  directors, 
who  shall  make  an  assessment  upon  all  property  insured  by 
it  in  proportion  to  the  amount  thereof  and  the  rate  under 
which  it  may  have  been  classified  sufficient  at  least  to  pay 
such  loss;  provided,  that  such  board  may  assess  up  to  three 
and  a  half  mills  even  if  such  loss  should  not  require  such  an 
amount,  and  when  such  assessment  shall  have  been  completed 
the  secretary  shall  immediately  insert  a  notice  in  one  or  more 
newspapers  printed  in  the  county  or  counties  where  such  a 
corporation  is  doing  business,  stating  therein  the  time  when 
such  assessment  was  levied  and  the  time  when  the  same  be- 
comes due,  such  notice  together  with  the  proof  of  the  publi- 
cation thereof  shall  be  conclusive  evidence  of  notice  of  such 
assessment  to  every  member  of  the  corporation;  the  secretary 
shall  also  notify  every  such  member  and  the  morteragee  or 
raortgaerees  to  whom  the  insurance  of  any  such  member  may 
be  made  pavable  by  letter  or^^postal  card  sent  to  his  usual 
Dost  office  address,  'of  the  amount  of  such  loss,  and  the  sum 
due  him  from  his  as  his  share  thereof,  and  the  time  when  and 
to  whom  pavment  thereof  is  to  be  made,  which  time  shall  not 
be  less  than  thirtv  nor  more  than  sixtv  davs  from  the  date  of 
snr^h  notice.  The  treasurer  or  person  desiomated  to  receive 
«jnr'h  monev  mav  demand  and  receive  two  per  cent  in  addi- 
tion to  the  amount  of  each  such  assessment  for  his  fees  in 
receiving  and  paving  over  the  same.     ??uch  assessment,  when 


55  TOWN  MUTUALS.  1936 

collected  shall  be  paid  to  the  person  entitled  thereto  according 
to  the  terms  of  the  policy  issued  to  him ;  provided  that  if  any 
loss  shall  occur  duing  the  first  eight  months  in  any  year  the 
board  of  directors,  at  the  time  of  making  the  assessment  there- 
for may  borrow  money  sufficient  to  pay  the  same  at  a  rate  of 
interest  not  exceeding  eight  per  cent,  and  shall  therein  include 
such  interest  in  the  assessment  and  direct  the  payment  of 
such  assessment  to  be  made  not  later  than  the  thirty-first  day 
I  of  December  next  following.     Every  member  who  shall  neglect. 

^or  refuse  to  pay  such  assessment  at  the  time  specified  in  the 
notice  sent  to  him,  shall  pay  to  such  corporation  a  fine  of  two 
I  per  cent,  of  the  amount  of  such  assessment  for  each  w^eek  or 
t  part  thereof  during  which  the  same  shall  remain  unpaid,  and 
^   no  payment  shall  be  made  by  .any  company  upon  the  policy 

of  any  member,  hereafter  written,  who  shall  sustain  a  loss 
^  if  such  member  at  the  time  of  such  loss,  shall  be  in  default 
i-  and  shall  have  neglected  or  refused  to  pay  such  assessment  at 

the  expiration  of  thirty  days  from  the  time  specified  in  said 
i  notice  sent  to  him. 

f 

f  1936 

ActioEs  to  collect;  directors'  liability. 

Section  1936.     An  action  at  law  may  be  brought  against 

.   any  member  of  such  corporation  who  shall  refuse  or  neglect 

to  pay  any  such  assessment  made  upon  his  insured  property 

The  directors  of  any  such  corporation  who  shall  wilfully  neg- 

^  lect  or  refuse  for  thirty  days  to  perform  the  duties  imposed 

^  upon  them  cither  in  this  or  the  next  preceding  section  shall  be 

P   jointly  or  severally  liable  in  their  individual  capacity  to  the 

person  sustaining  such  loss. 

1937  (1898;  ch.  169,  1899.)     ' 

Withdrawal  of  members;  cancella^i?n  of  policies. 

Section  1937.  Any  member  of  such  corporation  may  with- 
draw therefrom  at  any  time  by  returning  his  policy  with  a  re- 
((uest  for  its  cancellation  written  thereon  or  by  a  notice  in 
writing  over  his  own  signature  properly  witnessed   (one  wit- 

,    ness)  to  the  president  or  in  his  absence  to  the  secretary  thereof. 

■'  and  pavine:  his  share  of  all  claims  then  exist^ins:  against  said 
corporation.  And  the  directors,  or  a  majority  thereof  or  such 
ind  so  many  of  them  as  thev  may  have  appointed  as  a  com- 
1^'it^^ee  for  such  purpose  shall  have  power  to  annul  any  pol- 
icy by  giving  notice  in  writing  to  that  effect  to  the  holder 
thereof. 


1938  TOWN  MUTUALS.  56 

1938 

Secretary  and  treasurer's  report. 

Section  1938.  The  secretary  of  every  such  corporation 
shall  annually  prepare  a  statement  showing'  its  condition  on 
the  31st  day  of  December  preceding  its  annual  meeting,  which 
shall  contain  the  names  of  all  persons  then  insured,  the  amount 
insured  by  each  policy,  the  whole  number  of  policies  issued, 
the  whole  number  then  in  force,  the  aggregate  amount  then 
insured  and  the  aggregate  amount  of  each  class  of  insured 
property,  the  amount  of  losses  paid  during  the  year,  the  whole 
amount  of  losses  paid,  and  the  whole  amount  insured  by  the 
corporation  since  its  organization,  the  amount  of  losses  sus- 
tained and  unpaid,  if  any,  and  all  such  other  matters  per- 
taining to  its  interest  as  by  the  by-laws  he  may  be  required 
to  report  upon.  The  treasurer  of  every  such  corporation  shall 
annually  prepare  a  statement  of  its  financial  condition  on  the 
31st  day  of  December  preceding  its  annual  meeting  showing 
amount  on  hand  January  1  preceding,  amount  received  during 
the   year   from   premiums,   amount   received   from    assessments 

Nos. ,  amount  received  from  any  other  sources,  amount 

paid  for  losses,  amount  paid  for  expenses  , giving  a  detailed 
statement  of  every  item  of  expenses,  and  amount  of  cash  on 
hand.  Such  statements  or  so  much  thereof  as  said  corpora- 
tion, at  its  annual  meeting,  may,  by  resolution  or  otherwise, 
agree  upon  shall  be  read  to  the  members  at  such  meeting  and 
entered  at  length  upon  the  records;  and  within  fifteen  days 
after  such  meetinsr  shall  be  filed  in  the  office  of  the  clerk  of 
the  county  in  which  such  corporation  has  its  office  and  cer- 
tified copies  thereof  transmitted  to  the  commissioner  of  in- 
surance. 

Section  1938  is  referred  to  in  1941a-3,  1941-12. 

1939 

Non-resident  members. 

Section  1939.  A  non-resident  of  any  town,  owning  insur- 
able property  therein,  may  beconre  a  member  of  any  such  cor- 
poration authorized  to  insure  property  in  such  town  and  shall 
be  entitled  to  all  rights  and  privileges  of  such  member. 

1940  (Ch   31,  1909,  in  effect  April  2,  1909.) 

Risks;  territory;  amendment  to  articles;  exception. 

Section  1940.  Any  such  corporation  *  *  *  m^y  attach 
any  adioining  town  or  towns  as  part  of  its  territory  m  which  it 
may  thereafter  do  business;  provided  the  town  or  towns  so  at- 


57  TOWN  MUTUALS.  1941 

1  ached,  together  with  those  already  within  its  jurisdiction,  shall 
not  exceed  *  *  -  thirty,  except  in  cases  where  all  such 
towns  shall  be  within  the  same  county.  No  town  or  towns  shall 
be  so  attached  except  by  mnendnient  to  the  articles  of  organiza- 
tion *  *  *  J  provided  nothing  herein  contained  shall  affect 
any  company  already  doing  business  outside  of  the  county  in 
which  it  is  organized. 

1941 

Authority  of  existing  companies ;  new  towns,  how  brought 
in. 

Section  1941.  All  town  insurance  corporations  heretofore 
organized  under  any  law^  shall  be  deemed  to  be  organized  under 
and  governed  by  the  provisions  of  the  laws  of  this  state;  and 
such  existing  corporations  shall,  without  reorganization,  be 
authorized  to  insure  in  such  towTi  or  towns  as  they  may  have 
heretofore  effected  insurance  in,  not  exceeding  in  all  twenty  ad- 
joining tow^ns;  but  each  such  corporation  desiring  to  extend  its 
territory  beyond  the  town  or  towns  in  which  it  w^as  originally 
organized  shall,  within  six  months  after  the  adoption  of  these 
statutes,  file  in  the  office  of  the  county  clerk  of  the  county  in 
which  its  office  is  located  a  declaration  signed  by  its  president 
and  secretary  and  duly  acknowledged  by  them  naming  the  town 
or  towns  in  which  it  has  heretofore  transacted  the  business  of  in- 
surance and  declaring  its  intention  to  continue  its  business  in 
such  to\\'ns  thereafter. 

1941a^l   (Ch.  130,  1909,  in  effect  May  14,  1909.) 
Town  reinsurance  mu;;uals,  organization. 

Section  1941a — 1.  Any  number  of  town  mutual  fire  insur- 
ance companies  organized  under  the  laws  of  this  state,  not  less 
than  nine  in  number,  who  collectively  carry  fire  insurance  risks 
aggregating  not  less  than  ten  million  dollars  may  form  them- 
selves into  a  corporation  for  mutual  re-insurance  against  loss  or 
damage  by  fire  or  lightning. 

19418^2  (Ch.  130,  1909,  in  effect  May  14,  1909.) 
Members ;  representative. 
Section  1941a — 2.  Any  town  mutual  fire  insurance  company 
may,  at  its  annual  meeting,  or  at  a  special  meeting  called  for 
that  purpose,  by  resolution  duly  adopted,  vote  to  become  a  mem- 
ber of  a  re-insurance  corporation  to  be  organized  under  this  chap- 
ter. The  secretary,  or  in  case  of  his  inability  the  president,  of 
such  town  company  shall  thereupon  be  authorized  to  represent 


1941a— 3  TOWN  REINSURANCE  MUTUALS.  58 

such  town  company  in  forming  and  organizing  such  re-insur- 
ance corporation;  and  shall  in  all  matters  represent  such  town 
company  in  said  re-insurance  corporation. 

1941a,— 3  (Ch.  130,  1909,  in  effect  May  14,  1909.) 
Directors;  risks. 

Section  1941a — 3.  The  affairs  of  said  re-insurance  corpora- 
tion shall  be  managed  by  a  board  of  nine  directors  who  shall  be 
chosen  by  the  representatives  of  the  town  companies  composing 
such  re-insurance  corporation  from  among  their  number. 

Such  re- insurance  corporation  shall  have  power  to  re-insure 
the  risks  of  any  of  the  town  mutual  fire  insurance  companies 
composing  such  re-insurance  corporation ;  and  such  town  mutual 
fire  insurance  companies  are  authorized  to  effect  re-insurance  of 
their  risks  in  said  re-insurance  corporation. 

The  provisions  of  sections  1927  to  1941,  inclusive,  of  the  stat- 
utes, together  with  all  amendments  at  any  time  made  thereto, 
shall,  so  far  as  applicable,  apply  to  the  organization,  manage- 
ment, powers,  rights,  privileges,  duties,  and  burdens  of  such  re- 
insurance corporation,  and  the  members  thereof,  and  the  rela- 
tions of  such  members  with  each  other  and  with  such  re-insur- 
ance corporation,  and  the  manner  of  withdrawal  of  members 
therefrom. 

1941a^-4  (Ch.  130,  1909,  in  effect  May  14,  1909.) 
Members;  town  mutuals. 
Section  1941a — 4.  After  any  re-insurance  corporation  shall 
have  been  duly  organized  under  the  provisions  of  this  chaptei, 
any  town  mutual  fire  insurance  company  may  become  a  mem- 
ber thereof  whenever  such  town  insurance  company  shall,  at  its 
annual  meeting,  or  at  any  special  meeting  called  for  that  pur- 
pose, vote  to  apply  for  insurance  in  such  re-insurance  corpora- 
tion ;  and  when  such  application  for  insurance  shall  be  accepted 
and  approved  as  provided  by  the  by-laws  of  said  re-insurance 
corporation,  such  town  mutual  fire  insurance  company  shall 
thereupon  be  a  member  of  said  re-insurance  corporation. 

1941g  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Domestic  companies  repeal;  domestic  stock  and  mutual 
companies. 

Section  1941g.  1.  (a)  Sections  1896,  1897,  1898,  1899,  1900, 
1901  and  1907,  of  the  statutes,  relating  to  domestic  fire  and 
marine  insurance  companies,  are  repealed. 

(b)  Sections  1941a,  1941b,  1941c,  1941d,  1941e,  and  1941f,  of 
the  statutes,  relating  to  millers'  mutuals,  are  repealed; 


59  DOMESTIC  COMPANIES,  REPEAL,  BY-LAWS.  1941g 

(c)  Sections  1941—1,  1941— la,  1941—3,  1941—8  and 
1941 — 18  of  the  statutes,  relating  to  village  mutuals,  are  re- 
pealed ; 

(dj  Sections  1941—14,  1941—15,  1941—16,  1941—17, 
1941—18,  1941—19,  1941—20,  1941—21  and  1941—22  of  the 
statutes,  relating  to  druggists'  mutuals,  are  repealed j 

(e)  Sections  1941— 22a,  1941— 22b,  1941— 22c,  1941— 22d, 
1941— 22e,  1941-221,  1941— 22g,  1941— 221i  and  1941—221  of 
the  statutes,  relating  to  plate  glass  mutuals,  are  repealed; 

(f)  Sections  1941—23,  1941—24,  1941—25,  1941—26,  1941 
—27,  1941— 27a,  1941—28,  1941—29,  1941—30,  1941—31  and 
1941 — 32,  of  the  statutes,  relating  to  church  mutuals,  are  re- 
pealed ; 

(g)  Sections  1941—33,  1941—34,  1941—35,  1941—36,  1941 
—37,  1941—38,  1941-39,  1941—40  and  1941—41  of  the  stat- 
utes, relating  to  lumber  dealers'  mutuals,  are  repeoled; 

[h)  Sections  1966—2,  1966—3,  1966—4,  1966—5,  1966—6, 
1966—7,  1966—8,  1966—9,  1966—10,  1966—11  and  1966—12 
of  the  statutes,  relating  to  hail  and  cyclone  mutuals,  are  re- 
pealed ; 

(i)  Sections  1966—13,  1966—14,  1966—15,  1966— 16,  1966— 
17,  1966—19,  1966—20,  1966—21,  1966—22,  1966—23,  and 
^^)66 — 24  of  the  statutes,  relating  to  live  stock  mutuals,  are 
repealed ; 

(j)  Sections  1966—25,  1966—26,  1966—27,  1966—28,  1966— 
29,  1966—30,  1966—31,  and  1966— 31a  of  the  statutes,  relat- 
ing to  domestic  casualty  companies,  are  repealed; 

(k)  Sections  1966—41,  1966—43,  and  1966^9  of  the  stat- 
utes, relating  to  casualty  companies,  are  repealed; 

(1)  Sections  1966—50,  1966—51,  1966—52,  1966—53,  and 
1966 — 54  of  the  statutes,  relating  to  live-stock  business  mu- 
tuals, are  repealed; 

(m)  Sections  1966—61,  1966—62,  1966—63,  1966—64,  1966 
—65,  1966—66.  1966—67,  1966—68,  1966—69,  1966-^70,  and 
1966 — 71  of  the  statutes,  relating  to  bicycle  mutuals,  are  re- 
pealed. 

(n)  Sections  1966—81,  1966—82,  1966—83,  1966—84,  1966 
—85,  1966—86,  1966—87  and  1966—88,  of  the  statutes,  re- 
lating to  bankers'  casualty  mutuals,  are  repealed. 

By-laws. 

2.  From  and  after  the  repeal  of  the  foregoing  sections,  the 
said  sections  shall  be  considered  as  a  part  of  the  by-lavrs  of 
the  respective  corporations  heretofore  organized  now  doing 
business  under  the  provisions  of  said  laws,  and  such  by-laws 


194111  DOMESTIC  COMPANIES,  DURATION.  60 

shall  remain  in  force  except  as  hereby  or  hereafter  changed 
by  law  or  by  amendment  hereafter  adopted  to  the  by-laws 
by  such  corporation. 

Amendment  of  by-laws. 

3.  When  no  other  provision  is  made  for  the  amendment  of 
the  by-laws  of  such  corporation,  such  by-laws  may  be  amended 
in  the  manner  provided  in  paragraph  (b)  of  subsection  1  of 
section  1897c. 

Term  of  duration,  limitations  removed. 

4.  Every  insurance  corporation  heretofore  organized  and 
now  doing  business  under  the  provisions  of  any  law  of  this 
state  is  continued  without  any  limitation  whatever  upon  the 
duration  of  its  corporate  existence,  notwithstanding  any  lim- 
itation heretofore  imposed  by  law  or  incorporated  into  its 
articles  of  organization. 

1941n  (Ch.  63,  1909,  in  effect  April  24,  1909.) 

Term  of  duration;  validating  provisions;  filjng  articles. 
Section  1941n.  Any  town  insurance  company  organized, 
or  attempted  to  be  organized  under  the  provisions  of  section 
1927  to  1941  inclusive  of  the  statutes,  or  the  acts  of  which 
said  sections  are  amendatory,  if  doing  business  as  such  cor- 
poration at  the  time  of  the  taking  effect  of  this  act,  notwith- 
standing the  term  of  duration  of  its  corporate  existence  has 
expired,  the  invalidity  of  any  amendment  to  its  articles  of 
organization,  or  any  provision  or  provisions  of  law  may  not 
have  been  complied  with  in  such  organization,  shall  be  held 
and  considered  to  be  a  corporation  duly  organized  and  exist- 
ing under  the  sections  of  the  statutes  aforesaid,  and  the  term 
of  duration  of  any  such  corporation  is  hereby  extended  with- 
out any  limitation  whatever;  all  provided,  that  the  said  cor- 
poration shall  file  with  the  commissioner  of  insurance  a  copy 
of  its  articles  of  organization  and  any  amendments  thereto, 
duly  verified  as  such  by  the  affidavit  of  its  president  and  sec- 
retary, and  within  thirty  days  after  such  filing,  record  a  copy 
thereof,  duly  certified  by  the  commissioner  of  insurance,  in 
the  office  of  the  register  of  deeds  of  the  county  in  which  the 
home  office  of  said  corporation  is  located.  Thereupon  all  acts 
of  such  corporation  are  validated.  Any  limitation  of  the 
term  of  duration  of  any  corporation  organized  under  the  sec- 
tions of  the  statutes  aforesaid,  whether  prescribed  by  statute 
or  in  the  articles  of  organization  or  any  amendment  thereto 


61  CITY  AND  VILLAGE  MUTUALS.  1941—2 

is  hereby  abrogated  and  such  corporation  shall  continue  with- 
out any  limitation  of  its  term  of  duration. 

CITY  AND  VILLAGE  MUTUALS. 

1941—2  (1898;  ch   459,  1909,  in  effect  July  1,  1909.) 

City  and  village  mutuals,  meeting,  annual;  vote;  proxy. 

Section  1941 — 2.  Unless  otherwise  provided  by  the  consti- 
tution or  by-laws  of  any  city  and  village  mutual  fire  insurance 
company^  the  directors,  subsequent  to  the  first  board,  shall  be 
cliosen  by  ballot  at  the  annual  meeting  which  shall  be  held  on  the 

*  *  third  Monday  of  January  of  each  year,  unless  some 
other  day  be  fixed  therefor  by  a  majority  of  the  votes  of  such 
corporation.  Every  person  insured  shall  have  one  vote  at  such 
election ;  and  the  transaction  of  all  other  business,  except  as 
otherwise  provided  by  law,  may  be  determined  viva  voce  or  by 
ballot  as  the  by-laws  or  other  rules  and  regulations  prescribe. 
::=  *  *  No  person  shall  vote  by  proxy  except  women,  and  no 
person  shall  cast  more  than  one  proxy  vote. 

1941—4 

Treasurer's  bond. 

Section  1941 — 4.  The  treasurer,  before  entering  upon  his 
duties,  shall  execute  to  such  corporation  and  file  with  the  secre- 
tary a  bond  conditioned  for  the  faithful  discharge  of  his  duties, 
with  two  or  more  sureties,  in  such  sum  as  the  directors  may  order, 
such  bond  and  sureties  to  be  approved  by  the  president  and  a 
majority  of  the  directors. 

1941—5  (1898;  ch.  69,   1901;  ch.  93,  1903;  ch.  459,  1909,  in 
effect  July  1,  1909.) 

Risks ;  territory ;  single ;  term. 
Section   1941 — 5.     Such   corporations  may   insure   property 

*  *     located  anywhere  in  this  state,  but  in  no  case  shall  any 

*  *     *   .single  risk  exceed  fifteen  hundred   dollars    ($1,500), 

*  *  *  except  that  aiiy  such  corporation  haviyig  a  surplus  may 
insure  a  single  risk  in  an  amount  not  exceeding  one-eighth  of 
one  per  centum  of  the  insurance  in  force,  nor  ten  per  centum 
of  the  surplus,  nor  to  exceed  three  thousand  dollars  on  any  sin- 
gle risk.  No  policy  shall  he  issued  for  a  term  of  more  than  three 
years. 

1941—6 

Policies;  approval  of  form;  classification  of  risks. 
Section  1941 — 6.     The  board  of  directors  may  issue  policies 
signed  by  the  president  and  secretary,  agreeing  in  the  name  of 


^ 


1941—7  CITY  AND  VILLAGE  MUTUALS.  62 

the  corporation  to  pay  the  insured  all  loss  or  damage  of  and  to 
the  property  mentioned  and  described  therein  to  the  amount 
named  therein,  which  may  be  occasioned  by  fire  or  lightning 
within  the  period  named  in  said  policy,  which  in  no  case  shall 
be  more  than  three  years,  and  providing  for  such  conditions  of 
insurance  as  may  be  determined  by  the  constitution  and  by-laws, 
or  the  resolutions  of  the  annual  meeting;  but  no  policy  shall  be 
made  or  executed  until  the  blank  form  therefore  shall  have  been 
submitted  to  and  approved  by  the  commissioner  of  insurance; 
provided,  that  no  such  company  shall  be  required  to  use  the 
standard  policy.  The  said  board,  a  committee  of  not  less  than 
three,  at  least  two  of  whom  shall  be  directors,  or  the  corporation 
may  classify  the  property  insured  at  the  time  of  issuing  policies 
thereon  under  different  rates  corresponding,  as  near  as  may  be, 
to  the  greater  or  less  risk  which  may  attach  to  the  several  build- 
ings or  property  insured. 

See  notes  to  section  1932. 

1941—7   (1898;  ch.  25,  1899;  ch.  196,  1905;  ch.  521,  1909,  in 

effect  June  19.  1909.) 
Members;  liability;  contingent  fund. 

Section  1941 — 7.  Every  person  to  whom  any  such  policy  is 
issued  shall  be  deemed  a  member  of  such  corporation  while  such 
policy  is  in  force,  and  it  shall  be  lawful  for  such  corporation  to 
require  the  payment  of  such  premiums,  *  *  *  make  as- 
sessments upon  its  members,  and  enforce  the  collection  thereof 
as  circumstances  may  require  and  as  may  be  specified  in  its  con- 
stitution or  by-laws  or  fixed  by  resolution ;  and  the  members 
thereof  shall  be  subject  to  such  other  duties  as  may  be  prescribed 
by  the  by-laws.  Such  corporations  may  accumulate  a  contingent 
fund  consisting  of  the  premium  receipts  each  year  w^hich  are  not 
renuired  to  pay  the  losses  and  expenses  of  the  corporations, 
which  constitute  the  balance  at  the  close  of  the  year.  Such  fund 
shall  be  limited  to  an  amount  not  to  exceed  ten  per  cent,  of  the 
amount  of  insurance  in  force  and;  shall  be  used  for  the  payment 
of  losses,  actual  expenses,  and  return  premiums  for  the  current 
year  only. 

1941— 7m  (Ch    521.  1909,  in  effect  June  19,  1909.) 
Policy  fees;  limitation;  report. 

Section  1941 — 7m.  No  such  corporation  shall  charge  or  col- 
lect or  permit  to  bf»  charged  or  collected  any  fee  in  excess  of  the 
premium  so  renuired  to  be  paid,  provided  that  any  such  cor- 
poration may  by  its  by-laws  require  all  of  its  members  to  pay 


63  CITY  AND  VILLAGE  MUTUALS.  1941—9 

in  addition  to  theiF  premium  a  policy  fee  of  not  to  exceed  $1.50 
i)ii  each  policy  issued,  such  policy  fee  when  so  fixed  to  be  col- 
h^eted  with  and  as  part  of  the  amount  paid  by  each  member  for 
each  policy.  Such  policy  fee  shall  be  accounted  for  in  the  same 
manner  as  the  other  receipts  and  disbursements  of  such  corpora- 
tion. 

1941—9  (1898;  ch.  459,  1909,  in  effect  July  1,  1909.) 
Assessments;  notice;  borrowinj  money. 

Section  1941 — 9.  Whenever  the  amount  of  any  loss  *  *  * 
shall  exceed  the  amount  of  the  cash  funds  of  the  corporation, 
the  president,  or  in  his  absence,  the  vice-president  shall  convene 
the  board  of  directors,  who  shall  make  an  assessment  upon  all 
])roperty  insured  in  proportion  to  the  amount  thereof  and  the 
rate  under  which  it  may  have  been  classified,  sufficient  at  least 
to  pay  such  loss ;  provided  that  such  board  may  assess  up  to  four 
mills  even  if  such  loss  should  not  require  such  an  amount. 
Wheneven  such  assessment  shall  have  been  completed,  the  secre- 
tary shall  immediately  cause  to  be  published  for  three  consecu- 
tive weeks  in  such  weekly  newspaper,  printed  within  the  city  or 
village,  if  any,  in  which  the  office  of  such  company  is  located, 
otherwise  in  such  newspaper  printed  within  the  county  as  the 
board  of  directors  may  desii^nate.  a  notice  stating  the  time  when 
such  assessment  was  levied  and  the  time  when  the  same  be- 
comes due ;  said  notice,  together  with  the  proof  of  the  publica- 
tion thereof,  shall  be  conclusive  evidence  of  notice  of  such  as- 
sessment. *  *  *  Qr  fJiQ  directors  may,  for  the  purpose  of 
paying  losses  ivithin  the  limit  hereitrnfter  specified-,  horrow  a 
sum  not  exceeding  one- fourth  of  the  premium  and  interest  in- 
( ome  of  the  company  for  the  preceding  year  for  a  time  not  ex- 
<  reding  six  months  at  a  rate  ef  interest  not  exceeding  seven  per 
ci.nt.,  and  may,  on  or  before  the  maturity  of  such  loan,  levy  an 
assessment  upon  the  members  at  the  time  of  the  making  of  such 
loan,  for  the  payment  of  the  same  and  interest.  No  such  loan 
shall  be  renewed.  Within  *  *  *  thirty  days  after  the  levy- 
ing of  such  assessment  the  secretaiy  shall  notify  every  member 
by  letter  or  postal  card,  sent  to  his  usual  postoffice  address,  of 
tlie  amount  of  such  assessment,  and  the  sum  due  from  him  as  his 
share  thereof,  and  the  time  within  w^hich  and  to  whom  payment 
is  to  be  made,  which  time  shall  not  be  less  than  *  *  *  thirty 
Tior  more  than  *  *  *  sixty  days  from  the  date  of  such 
notice.  *  *  *  jf  f^e  assured  neglect. to  make  payment  of 
any  assessment  within  the  time  specified  in  the  notice  sent  him 
his  policy  shall  be  null  and  void  until  such  assessment  is  paid, 
and  also  his  pro  rata  share  of  all  other  assessments  which  may 


1941— 9m  CITY  AND  VILLAGE  MUTUALS.  64 

be  levied  during  the  suspension  of  the  policy  on  account  of  the 
non-payment  of  a  previous  assessment. 

Section  1941 — 9  is  referred  to  in  1941-10. 

1941— 9m  (Ch.  274,  1909,  in  effect  June  4,  1909.) 
Assessment;  notice;  omission;  validation. 
Section  1941 — 9m.  Whenever  the  secretary  shall  have 
omitted  or  neglected  for  more  than  five  days  to  notify  every 
member  of  an  assessment  as  herein  provided,  such  notification 
thereafter  and  within  one  year  shall,  nevertheless,  be  lawful, 
provided  it  otherwise  comply  with  this  section  and  the  time 
for  payment  be  fixed  in  such  later  notice  at  not  less  than  sixty 
nor  more  than  ninety  days  from  the  date  of  such  notice  as  the 
board  of  directors  shall  then  determine.  Any  assessment 
made  prior  to  January  1,  1909.  in  which  a  bona  fide  attempt 
has  been  made  to  comply  with  this  section  is  hereby  validated. 

1941—10  (1898;  ch.  459,  1909,  in  effect  July  1,  1909  ) 
Assessmen*;s ;  action;  directors*  liability. 
Section  1941 — 10.  An  action  at  law  may  be  brought  against 
any  member  of  such  corporation  who  shall  refuse  or  neglect 
to  pay  any  assessment  made  upon  his  insured  property,  and 
the  directors  of  any  such  corporation  who  shall  wilfully  neg- 
lect or  refuse  for  thirty  days  to  perform  the  duties  imposed 
upon  them  by  *  *  *  section  1941 — 9  shall  be  jointly  and 
severally  liable  in  their  individual  capacity  to  the  persons 
sustaining  such  loss. 

1941—11   (1898;  ch.  459,  1909,  in  effect  July  1,  1909.) 
Withdrawal ;  cancellation. 

Section  1941 — 11.  *  *  *  J.^7/  policy  may  he  cancelled  as 
provided  in  section  1941 — 52,  upon  the  payment  by  such  mem- 
ber of  his  portion  of  all  the  liabilities  outstanding  at  the  time  of 
such  cancellation,  and  the  liability  on  the  part  of  such  member 
on  such  policy  shall  cease. 

1941—12  (1898;  eh.  459,  1909,  in  effect  July  1,  1909.) 
Reports. 
Section  1941 — 12.     The  president  and  secretary     *     *     *        i 
of  every  such  <>orporation  shall,  on  or  before  the  first  day  of 
February  in  each  year,     *     *     *     make  such     *     *     *     report 
as    *     *     *    may  be  required     *     *     *     by  the  commissioner 
of  insuranc^^i  , 


65  STANDARD  FIRE  POLICY.  1941—42 

County  asylum  companies. 

The  provisions  relating  to  'county  asylum  companies  are 
found  in  ch.  128,  190P)  and  sections  1941— 13a  to  1941— 13n, 
inclusive.  No  such  corporation  has  been  organized  in  this 
state. 

Sections  1941— 14m  (ch.  4,  1909)  and  1941— 14t  (ch.  52, 
1909)  are  not  specifically  repealed  by  ch.  460,  1909,  section 
1941g,  but  as  the  objects  of  these  sections  can  be  effected 
under  ch.  460,  1909,  sections  1896  to  1901n,  the  same  are 
omitted. 

School  district  mutuals. 

The  law  relating  to  school  district  mutuals  is  contained  in 
chapter  373,  1905,  sections  1941— 32a  to  1941— 32o  inclusive. 
No  such  corporation  has  been  organized  in  this  state. 


STANDARD  FIRE  INSURANCE  POLICY. 

1941—42  1"^ 

Commissioner  to  provide  printed  form. 
Section  1941 — 42.  The  commissioner  of  insurance  shall  pre- 
pare and  file  in  his  office  immediately  after  these  statutes  take 
effect  a  printed  form  in  blank  of  a  policy  of  fire  insurance 
containing  the  provisions,  agreements  and  conditions  specified 
in  the  following  sections,  omitting  section  numbers  from  the 
printed  policy;  and  such  form  shall  be  known  as  the 

STANDARD  FmE  INSURANCE  POLICY. 

1941—43 

Formal  part. 

Section  1941—43. 
No.  .  $ . 


in  consideration  of  the  stipulations  herein  named  and 

of dollars  premium  does  insure for  the  term  of 

from  the day  of ,  18 — ,  at  noon,  to  the day 

of ,  18 — ,  at  noon,  against  all  direct  loss  or  damage  by 

fire,  except  as  herein  after  provided,  to  an  amount  not  exceed- 
ing   dollars  to  the  following  described  property  while  lo- 
cated and  contained  as  described  herein  and  not  elsewhere,  to- 
wit: 


Sections  1941-42  to  1941-63  is  referred  to  In  sees.  1941-63,  1941-64. 
5-1.  L. 


1941—44  STANDARD  FIRE  POLICY.  66 

1941—44 

Liability;  appraisement;  repairs. 
Section  1941 — 44.  Except  when  otherwise  provided  by- 
statute  this  company  shall  not  be  liable  beyond  the  actual  cash 
value  of  the  property  at  the  time  any  loss  or  damage  occurs 
and  the  loss  or  damage  shall  be  ascertained  or  estimated  ac- 
cording to  such  actual  cash  value,  with  proper  deduction  for 
depreciation  however  caused,  and  shall  in  no  event  exceed 
what  it  would  then  cost  the  insured  to  repair  or  replace  the 
same  with  material  of  like  kind  and  quality;  said  ascertain- 
ment or  estimate  shall  be  made  by  the  insured  and  this  com- 
pany, or,  if  they  differ,  then  by  the  appraisers  as  hereinafter 
provided ;  and  the  amount  of  loss  or  damage  having  been  thus 
determined  the  sum  for  which  this  company  is  liable  pursuant 
to  this  policy  shall  be  payable  sixty  days  after  due  notice  and 
proof  of  the  loss  have  been  received  by  this  company  in  ac- 
cordance with  the  terms  of  this  policy.  It  shall  be  optional, 
however  with  this  company  to  take  all  or  any  part  of  the 
articles  at  such  ascertained  or  appraised  value,  and  also  to  re-  | 
pair,  rebuild  or  replace  the  propertv  lost  or  damasred  with 
other  of  like  kind  and  quality  within  a  reasonable  time  on 
srivinsr  notice  within  thirtv  days  after  the  receipt  of  the  proof 
herein  reauired  by  (of)  its  intention  to  do  so;  but  there  can 
be  no  abandonment  to  this  company  of  the  property  described. 

■'I 
1941—45  1 

CorcpaTnifiiit:  fraud. 
Section  1941 — 45.     This  entire  policv  shall  be  void  if  the  I 
insured  hath  concealed  or  misrepresented,  in  writing  or  other-  | 
wise,  any  material  fact  or  circumstance  concerning  this  in-  I 
surance  or  the  subiect  thereof;  or  if  the  interest  of  the  insured 
in  the  property  be  not  truly  stated  herein,  or  in  case  of  any 
fraud  or  false  swearing  by  the  insured  touching  anv  matter 
relating  to  this  insurance  or  the  subject  thereof,  whether  be- 
fore or  after  a  loss. 

See  section  4202m. 

1941—46    (1898;  ch.  316,  1899.) 

Other  insurance ;  increase  of  risk. 
Section  1941 — 46.  This  entire  policy  unless  otherwise  pro- 
vided by  agreement  endorsed  hereon  or  added  hereto,  shall 
be  void  if  the  insured  now  has  or  shall  hereafter  make  or  pro- 
cure any  other  contract  of  insurance  whether  valid  or  not,  on 
property  covered  in  whole  or  in  part  by  this  policy; 


67  STANDARD  FIRE  POLICY.  1941—46 

Or  if  the  subject  of  insurance  be  a  manufacturing  estab- 
lishment and  it  be  operated  in  whole  or  in  part  at  night  later 
than  ten  o'clock; 

Or  if  it  cease  to  be  operated  for  more  than  ten  consecutive 
days; 

Or  if  the  hazards  be  increased  by  any  means  within  the  con- 
trol or  knowledge  of  the  insured; 

Or  if  mechanics  be  employed  in  building,  altering  or  repair- 
ing the  within  described  premises  for  more  than  fifteen  days 
any  one  time; 

Or  if  the  interest  of  the  insured  be  other  than  unconditional 
and  sole  ownership; 

Or  if  the  subject  of  insurance  be  a  building  on  ground  not 
owned  by  the  insured  in  fee-simple; 

Or  if  the  subject  of  insurance  be  personal  property  and  be 
or  become  incumbered  by  a  chattel  mortgage ; 

Or  if,  with  the  knowledge  of  the  insured,  foreclosure  pro- 
ceedings be  commenced  of  notice  given  of  sale  of  any  prop- 
erty covered  by  this  policy  by  virtue  of  any  mortgage  or  trust 
deed; 

Or,  if  any  change,  other  than  by  the  death  of  an  insured, 
take  place  in  the  interest,  title  or  possession  of  the  subject 
of  insurance  except  change  of  occupants  without  increase  of 
hazards,  whether  by  legal  process  or  judgment  or  by  volun- 
tary act  of  the  insured  or  otherwise; 

Or  if  this  policy  be  assigned  before  a  loss ; 

Or  if  illuminating  gas  or  vapor  be  generated  in  the  de- 
scribed building  (or  adjacent  thereto)  for  use  therein; 

Or  if,  any  usage  or  custom  of  trade  or  manufacture  to  the 
contrary  notwithstanding,  there  be  kept,  used  or  allowed  on 
the  above  described  premises  benzine,  benzole,  dynamite, 
ether,  fireworks,  gasoline,  greek  fire,  gunpowder  exceeding 
twenty-five  pounds  in  quantity,  naphtha,  nitro-glycerine  or 
other  explosive,  phosphorous  or  petroleum  or  any  of  its  prod- 
ucts of  greater  inflammability  than  kerosene  oil  of  the  Wiscon- 
sin standard,  which  last  may  be  used  for  lights  and  kept  for  sale 
accordinsr  to  law,  but  in  quantities  not  exceedinsr  five  barrels, 
provided  it  be  drawn  and  lamps  filled  by  daylight  or  at  a 
distance  not  less  than  ten  feet  from  artificial  light; 

Or  if  a  building  herein  described,  whether  intended  for  oc- 
cupancy by  owner  or  tenant,  be  or  become  vacant  or  unoccu- 
pied and  so  remain  for  ten  days,  and  continuing  until  the 
time  of  the  fire.  *  . 

See  section  4202m. 


1941—47  STANDARD  FIRE  POLICY.  68 

1941—47  (1898;  ch.  525,  1907.) 

Risks  not  assumed;  lightning  covered;  other  insurance. 
Section  1941 — 47.  This  company  shall  not  be  liable  for 
loss  caused,  directly  or  indirectly,  by  invasion,  commotion, 
riot,  insurrection,  civil  war,  or  military  or  usurped  power,  or 
by  order  of  any  civil  authority ;  or  by  theft ;  or  by  neglect  of 
the  insured  to  use  all  reasonable  means  to  save  and  preserve 
the  property  at  and  after  a  fire  or  when  the  property  is  endan- 
gered by  fire  in  the  neighboring  premises;  or  (unless  fire  en- 
sue, and,  in  that  event,  for  the  damage  by  fire  only)  by  explo- 
sion of  any  kind.  This  policy  shall  cover  any  direct  loss  or 
damage  caused  by  lightning  (meaning  thereby  the  commonly 
accepted  use  of  the  term  lightning,  and  in  no  case  to  include 
loss  or  damage  by  cyclone,  tornado,  or  windstorm)  not  ex- 
ceeding the  sum  insured,  nor  the  interest  of  the  insured  in  the 
property,  and  subject  in  all  other  respects  to  the  terms  and 
conditions  of  this  policy.  If  there  shall  be  any  other  insur- 
ance on  said  property  this  company  shall  be  liable  only  pro 
rata  with  such  other  insurance  for  any  direct  loss  by  lightning 
whether  such  other  insurance  be  against  direct  loss  by  light- 
ning or  not. 

1941—48 

Fallen  buildings. 
Section  1941—48     If  a  building  or  any  part  thereof  fall^ 
except  as  the  result  of  fire,  all  insurance  by  this  policy  on 
such  building  or  its  contents  shall  immediately  cease. 
1941—49 

Exemption  from  liability. 

Section  1941—49.  This  company  shall  not  be  liable  for 
loss  to  accounts,  bills,  currency,  deeds,  evidences  of  debt  money, 
notes  or  securities;  nor,  unless  liability  be  specifically  assumed  ■ 
hereon  for  loss  to  awnings,  bullion,  casts,  curiosities,  drawings, 
dies,  implements,  jewels,  manuscripts,  medals,  models,  patterns, 
pictures,  scientific  apparatus,  signs,  store  or  office  furniture  or 
fixtures,  sculpture,  tools  or  property  held  in  storage  or  for  re- 
pairs; nor,  beyond  the  actual  value  destroyed  by  fire,  for  loss 
occasioned  by  ordinance  or  law  regulating  construction  or  re- 
pair of  buildings,  or  by  interruption  of  business  manufacturing 
process  or  otherwise ;  nor  for  any  greater  proportion  of  the  value 
of  pi  ate  CTlas«,  frescoes  and  decorations  than  that  which  this 
policy  shall  bear  to  the  whole  insurance  on  the  building  de- 
scribed. 


i 


69  STANDARD  FIRE  POLICY.  1941—50 

1941—50 

Waxranty. 
Section  1941 — 50.     If  an  application,  survey,  plan  or  de- 
scription of  property  be  referred  to  in  this  policy  it  shall  be  a 

part  of  this  contract  and  a  warranty  by  the  insured. 
See  section  4202m. 

1941—51 

Renewal  of  policy. 
Section  1941 — 51.  This  policy,  may,  by  a  renewal,  be  con- 
tinued under  the  original  stipulations,  in  consideration  of  pre- 
mium for  the  renewed  term,  provided  that  any  increase  of 
hazard  must  be  made  known  to  this  company  at  the  time  of 
renewal  or  this  policy  shall  be  void. 

1941—52 

Cancellation;  unearned  premium. 
Section  1941 — 52.  This  policy  shall  be  cancelled  at  any 
time  at  the  request  of  the  insured  or  by  the  company  by  giv- 
ing five  days'  notice  of  such  cancellation,  unless  during  a  time 
in  which  the  hazard  shall  be  increased  solely  by  the  act  of  God 
and  in  such  case  and  during  such  time  of  such  increase  of 
hazard  the  company  shall  not  cancel  this  policy,  except  upon 
sixty  days'  notice  of  such  cancellation,  without  the  consent  of 
the  assured.  If  this  policy  be  cancelled  as  hereinbefore  pro- 
vided or  become  void  or  cease,  the  premium  having  been  act- 
ually paid,  the  unearned  portion  shall  be  returned  on  sur- 
render of  this  policy  or  last  renewal,  this  company  retaining 
the  customary  short  rate ;  except  that  when  this  policy  is  can- 
celled by  this  company  by  giving  notice  it  shall  retain  only 
the  pro  rata  premium. 

1941—53 

Rights  of  mortgagee. 
Section  1941 — 53.  If  with  the  consent  of  this  company,  an 
interest  under  the  policy  shall  exist  in  favor  of  a  mortgagee 
or  of  any  person  or  corporation  having  an  interest  in  the  sub- 
ject of  insurance,  other  than  the  interest  of  the  insured  as 
described  herein,  the  conditions  hereinbefore  contained  shall 
apply  in  the  manner  expressed  in  such  provisions  and  condi- 
tions of  insurance  relating  to  such  interest  as  shall  be  written 
upon,  attached  or  appended  hereto. 


1941—54  STANDARD  FIRE  POLICY.  70 

1941—54 

Removal  of  property. 

Section  1941 — 54.  If  property  covered  by  this  policy  be 
so  endangered  by  fire  as  to  require  removal  to  a  place  of 
safety  and  be  so  removed,  that  part  of  this  policy  in  excess  of 
its  proportion  of  any  loss  and  of  the  value  of  property  re- 
maining in  the  original  location  shall,  for  the  ensuing  five  days 
only,  cover  the  property  so  removed  in  the  new  location;  it 
removed  to  more  than  one  location  such  excess  of  this  policy  -j 
shall  cover  therein  for  such  five  days  in  the  proportion  that 
the  value  in  any  one  such  new  location  bears  to  the  value  in 
all  such  new  locations ;  but  this  company  shall  not,  in  any  case 
of  removal,  whether  to  one  or  more  locations,  be  liable  beyond 
the  proportions  that  the  amount  hereby  insured  shall  bear  to 
the  total  insurance  on  the  whole  property  at  the  time  of  fire 
whether  the  same  cover  in  new  location  or  not. 

1941—55 

Kotice  and  proof  of  loss;  examination;  books;  etc. 

Section  1941 — 55.  If  fire  occur  the  insured  shall  give  im- 
mediate notice  of  any  loss  thereby  in  writing  to  this  company, 
protect  the  property  from  further  damage,  forthwith  separate 
the  damaged  and  undamaged  personal  property,  put  it  in  the 
best  possible  order,  make  a  complete  inventory  of  the  same 
stating  the  quantity  and  cost  of  each  article  and  the  amount 
claimed  thereon;  and,  within  sixty  days  after  the  fire,  unless 
such  time  be  extended  by  agreement  with  the  company 
through  the  local  agent  or  any  other  authorized  agent  or  any 
adjuster  acting  for  such  company  concerning  such  loss,  shall 
render  a  statement  to  the  company,  signed  and  sworn  to  by 
said  insured  stating  the  knowledge  and  belief  of  the  insured 
as  to  the  time  and  origin  of  the  fire,  the  interest  of  the  in- 
sured and  of  all  others  in  the  property,  the  cash  value  of 
each  item  thereof  and  the  amount  of  loss  thereon,  all  in- 
cumbrances thereon,  all  other  insurance,  whether  valid  or  not, 
covering  any  of  said  property  and  a  copy  of  all  the  descrip- 
tions and  schedules  in  all  policies,  any  changes  in  the  title, 
use,  occupation,  location,  possession  or  exposures  of  said  prop- 
erty since  the  issuing  of  this  policy  by  whom  and  for  what 
purpose  any  building  herein  described  and  the  several  parts 
thereof  were  occupied  at  the  time  of  the  fire,  and  shall  fur- 
nish, if  required,  verified  plans  and  specifications  of  any  build- 
ing, fixtures  of  machinery  destroyed  or  damaged,  and  shall 
also,  if  required,  furnish  a  certificate  of  a  magistrate  or  no- 


71  STANDARD  FIRE  POLICY.  1941—56 

tary  public  residing  in  the  country  where  the  insured  prop- 
erty is  located  (not  interested  in  the  claim  as  a  creditor  or 
otherwise,  nor  related  to  the  insured)  stating  that  he  has  ex- 
amined the  circumstances  and  believes  the  insured  has  hon- 
estly sustained  loss  to  the  amount  that  such  magistrate  or 
notary  public  shall  certify.  The  insured,  as  often  as  required, 
shall  exhibit  to  any  person  designated  by  this  company  all 
that  remains  of  any  property  herein  described,  and  submit  to 
examinations,  all  under  oath  by  any  person  named  by  this 
company,  and  subscribe  the  same;  and,  as  often  as  required 
shall  produce  for  examination  all  books  of  account,  bills,  in- 
voices and  other  vouchers,  or  certitied  copies  thereof  if  origi- 
nals be  lost,  at  such  reasonable  place  as  may  be  designated  by 
this  company  or  its  representative,  and  shall  permit  extracts 
and  copies  thereof  to  be  made. 

1941—56 

Appraisement  of  loss. 
Section  1941 — 56.  In  the  event  of  disagreement  in  the 
amount  of  loss  the  same  shall,  as  above  provided,  be  ascer- 
tained by  two  competent  and  disinterested  appraisers  who 
shall  be  residents  of  this  state  unless  otherwise  agreed  by  the 
parties  thereto;  the  insured  and  this  company  each  selecting 
one  within  thirty-live  days  after  the  mailing  of  proof  of  loss 
to  said  company,  as  herein  stated,  and  in  case  either  party  fail 
to  select  an  appraiser  within  such  time  the  other  appraiser 
and  the  umpire  selected,  as  herein  provided,  may  act  as  & 
board  of  appraisers  and  whatever  award  they  shall  find  shall 
be  as  binding  as  though  the  two  appraisers  had  been  chosen; 
and  the  two  so  chosen  shall  first  select  a  competent  and  dis- 
interested umpire,  provided  that  if  after  five  days  the  two 
appraisers  cannot  agree  on  such  an  umpire  the  presiding  judge 
of  the  circuit  court  of  the  county  wherein  the  loss  occurs  may 
appoint  such  an  umpire  upon  application  of  either  party  in 
writing  by  giving  five  days'  notice  thereof  in  writing  to 
the  other  party.  Unless  within  thirty  days  after  proof  of 
the  loss  has  been  mailed  to  the  company,  either  party,  the 
assured  or  the  company,  shall  have  notified  the  other  in 
writing  that  such  party  demands  an  appraisal,  such  right  of 
an  appraisal  shall  be  waived;  the  appraisers  together  shall 
then  estimate  and  appraise  the  loss,  stating  separately  sound 
value  and  damage  and,  failing  to  agree,  shall  submit  their 
differences  to  the  umpire;  and  the  award  in  writing  of  any 
two   shall   determine   the   amount   of  such  loss;   the   parties 


1941—57  .      STANDARD  FIRE  POLICY.  72 

thereto  shall  pay  the  appraisers  respectively  selected  by  them 
and  shall  bear  equally  the  expenses  of  the  appraisal  and  um- 
pire. 

1941__57 

Waiver;  loss,  when  payable. 

Seotion  1941 — 57.  This  company  shall  not  be  held  to  have 
waived,  except  as  above  expressly  provided  for,  any  provision 
or  condition  of  this  policy  or  any  forfeiture  thereof  by  any  re- 
quirement, act  or  proceeding  on  its  part  relating  to  the  ap- 
praisal or  to  any  examination  herein  provided  for;  and  the  loss 
shall  become  payable  sixty  days  after  the  notice  and  proof  of 
the  loss  herein  required  have  been  received  by  this  company. 

1941—58 

Liability  if  other  insurance;  re-insurance. 

Section  1941 — 58.  This  company  shall  not  be  liable  under 
this  policy  for  a  greater  proportion  of  any  loss  on  the  des- 
cribed property  or  for  loss  by  and  expense  of  removal  from 
premises  endangered  by  fire  than  the  amount  hereby  insured 
shall  bear  to  the  whole  insurance,  whether  valid  or  not,  or  by 
solvent  or  insolvent  insurers  covering  such  property,  and  the 
extent  of  the  application  of  the  insurance  under  this  policy  or 
of  the  contribution  to  be  made  by  this  company  in  case  of  loss 
may  be  provided  for  by  agreement  or  condition  written  hereon 
or  attached  or  appended  hereto.  Liability  for  re-insuranjce 
shall  be  as  specifically  agreed  hereon. 

1941—59 

Subrogation. 

Section  1941—59.  If  this  company  shall  claim  that  the  fire 
was  caused  by  the  act  or  neglect  of  any  person  or  corporation 
private  or  municipal,  this  company  shall,  on  payment  of  the 
loss,  be  subrogated  to  the  extent  of  such  payment  to  all  right 
of  recovery  by  the  insured  for  the  loss  resulting  therefrom 
and  such  right  shall  be  assigned  to  this  company  by  the  insured 
on  receiving  such  payment. 

1941—60 

Definitions. 

Section  1941—60.  Whenever  in  this  policy  the  word  ''in- 
sured" occurs  it  shall  be  held  to  include  the  legal  representa- 
tive of  the  insured,  and  whenever  the  word  "loss"  occurs  it 
shall  be  deemed  the  equivalent  of  "loss  or  damage." 


73  STANDARD  FIRE  POLICY.  1941—61 

1941—61 

Other  conditions. 

Section  1941  —  61.  If  this  policy  be  made  by  a  mutual  or 
other  company  having  special  regulations  lawfully  applicable 
to  its  organization,  membership,  policies  or  contracts  of  insur- 
ance, such  regulations  shall  apply  to  and  form  a  part  of  this 
policy  as  the  same  may  be  written  or  printed  upon,  attached 
or  appended  hereto. 

1941—62 

Waiver;  agent's  knowledge. 

Section  1941 — 62.  This  policy  is  made  and  accepted  subject 
to  the  foregoing  stipulations  and  conditions,  together  with  such 
other  provisions,  agreements  or  conditions  as  may  be  indorsed 
hereon  or  added  hereto,  and  no  officer,  agent  or  other  representa- 
tive of  this  company  shall  have  power  to  waive  any  provision  or 
condition  of  this  policy  except  such  as  by  the  terms  of  this  policy 
may  be  the  subject  of  agreement  indorsed  hereon  or  added  here- 
\  to,  and  as  to  such  provisions  and  conditions  no  officer,  agent  or 
representative  shall  have  such  power  or  be  deemed  or  held  to 
have  waived  such  provisions  or  conditions  unless  such  waiver,  if 
any,  shall  be  written  upon  or  attached  hereto,  nor  shall  any 
privilege  or  permission  affecting  the  insurance  under  this 
policy  exist  or  be  claimed  by  the  insured  unless  so  written 
or  attached.  Up  to  the  time  of  the  delivery  of  the  policy  to  as- 
sured, in  all  transactions  relating  to  this  policy  or  to  the  prop- 
erty herein  insured,  between  the  assured  and  any  agent  of  the 
company,  knowledge  of  the  agent  shall  be  knowledge  of  the 
company;  and  in  all  transactions  relating  to  the  subject  of 
insurance,  between  the  insured  and  any  agent  of  the  company 
after  loss,  knowledge  of  the  agent  shall  be  knowledge  of  the 
company. 

In  witness  whereof,  this  company  has  executed  and  attested 
these  presents  this — day  of — ,  19 — . 

1941—63 
Forms. 

Section  1941 — 63.     (Indorsements.) 

Assignmetit  of  Interest  hy  Insured. 

The  interest  of as  owner  of  property  covered  by 

this  policy  is  hereby  assigned  to subject  to  the  con- 

■    sent  of  (name  of  company). 


Dated .  Signature  of  the  insured. 


1941—64  STANDARD  FIRE  POLICY.  74 

Note— To  secure  mortgagees,  if  desired,  the  policy  should 
be  made  payable  on  its  face  to  such  mortgagee,  as  follows: 
Loss,  if  any,  payable  to  John  Doe,  mortgagee. 

Consent   hy   Company   to  Assignment   of   Interest. 

(name  of  company)  hereby  consents  that  the  interest  of 

as  owner  of  the  property  covered  by  this  policy  be 


assigned  to 


Dated  .  Signature  for  company. 

Expires . 

Property . 

A'mt  $ .     Premium  $ . 

No. . 


It  is  important  that  the  written  portions  of  all  policies  cover- 
ing the  same  property  read  exactly  alike.  If  they  do  not  they 
should  be  made  uniform  at  once. 

1941—64  (1898;  ch.  102,  1905;  ch.  525,  1907.)  • 
Standard  policy  required  of  what  companies. 
Section  1941 — 64.  No  fire  insurance  company,  corporation 
or  association,  except  township  mutual  insurance  companies, 
their  officers,  or  agents,  shall  make,  issue,  use  or  deliver  for 
use  any  fire  insurance  policy  on  property  in  this  state,  other 
than  such  ,is  shall  conform  in  all  particulars  as  to  blanks,  size 
of  type,  context,  provisions,  agreements  and  conditions  with 
the  printed  form  of  contract  or  policy  so  filed  in  the  office  of 
the  commissioner  of  insurance  as  provided  for  in  sections  1941 
— 42  to  1941—63',  except  that  the  policy  may  be  printed  on 
paper  of  a  size  different  from  that  of  the  printed  form  of  con- 
tract or  policy  filed  in  the  office  of  the  commissioner,  of  insur- 
ance, which,  however,  shall  not  be  less  than  nine  inches  in 
width,  and  no  Other  or  different  provision,  agreement,  condi- 
tion or  clause  shall  in  any  manner  be  made  a  part  of  said  con- 
tract or  policy,  or  be  indorsed  thereon  or  delivered  therewith 
except  as  follows,  towit: 

Other  provisions;  agent  to  countersign. 

1.  The  name  of  the  company,  its  location  or  place  of  busi- 
ness, the  date  of  its  incorporation  or  organization  and  the 
state  or  country  under  which  the  same  is  organized,  the  amount 
of  paid  up  capital  stock,  whether  it  is  a  stock  or  mutual  com- 
pany, the  name  of  its  officers,  the  number  and  date  of  the  policy, 


75  STANDARD  FIRE  POLICY.  1941—64 

and,  if  it  be  issued  through  a  manager  or  agent  of  the  company, 
the  words  ''this  policy  shall  not  valid  until  countersigned  by  the 

duly  authorized  manager  or  agent  of  the  company  at /' 

may  be  printed  on  policies  issued  on  property  in  this  state.  All 
policies  shall  be  countersigned  by  an  individual  agent. 

Schedules;  conditions. 

2.  Printed  or  written  forms  of  description  and  specifica- 
tion of  schedules  of  the  property  covered  by  any  particular 
policy,  and  any  other  matter  necessaiy  to  clearly  express  all 
the  facts  and  conditions  of  insurance  on  any  particular  risk 
(which  facts  or  conditions  shall  in  no  case  be  inconsistent  with 
or  a  waiver  of  any  of  the  provisions  or  conditions  of  the  standard 
policy  herein  provided  for),  may  be  written  upon  or  attached 
or  appended  to  any  policy  issued  on  property  in  this  state. 

Other  provisions  required  by  law. 

3.  A  company,  corporation  or  association  organized  or  in- 
corporated under  and  in  pursuance  of  the  laws  of  this  state 
or  elsewhere  if  entitled  to  do  business  in  this  state,  may,  with 
the  approval  of  the  commissioner  of  insurance,  if  the  same  is 
not  already  included  in  the  standard  form  as  provided  for  in 
said  sections,  print  on  its  policies  any  provision,  which  it  is 
required  by  law  to  insert  therein,  if  such  provisions  be  not  in 
conflict  with  the  laws  of  this  state  or  of  the  United  States,  or 
of  .the  provisions  of  the  standard  form  provided  for  herein 
but  any  such  provision  shall  be  printed  apart  from  the  other 
provisions,  asreements  or  conditions  of  the  policy  and  in  type 
not  smaller  than  the  body  of  the  policy,  and  under  a  separate 
title  as  follows:  ''Provisions  required  by  law  to  be  stated  in 
this  policy,'^  and  be  a  part  of  said  policy. 

Agents  name  and  place  of  business. 

4.  There  may  be  indorsed  on  the  outside  of  any  policy  herein 
provided  for  the  name,  with  the  word  "agent"  or  "agents*' 
and  place  of  business  of  any  insurance  agent  or  agents,  either 
by  writing,  printing,  stamping  or  otherwise. 

Joint  policies;  several  liabilities. 

5.  Where  two  or  more  companies  (each  having  previously 
complied  with  the  law  of  this  state)  unite  to  issue  a  joint  pol- 
icy there  may  be  expressed  in  the  heading  of  such  policy  the 
fact  of  the  severalty  of  the  contract;  also  the  proportion  of 
premium  to  be  paid  to  each  company,  and  the  proportion  of 


1941—65  FIRE  POLICIES.  76 

liability  which  each  company  agrees  to  assume.     And  in  the 
printed  conditions  of  such  policy  the  necessary  change  may  be 
made  from  the  singular  to  the  plural  number  when  reference 
is  had  to  the  companies  issuing  such  policy. 
See  next  section. 

1941—65 

Violation  of  law;  bound  by  contract. 

Section  1941 — 65.  Any  insurance  company,  its  officers  or 
agents  or  either  of  them,  violating  any  provision  of  sections 
1941—42  to  1941 — 64,  inclusive,  by  making,  issuing,  deliver- 
ing or  offering  to  deliver  any  policy  of  fire  insurance  on  prop- 
erty in  this  state,  except  as  hereinbefore  provided,  shall  be 
guilty  of  a  misdemeanor  and  upon  complaint  made  by  the  com- 
missioner of  insurance  or  any  citizen  of  this  state,  shall,  upon 
conviction  thereof,  be  punished  by  a  fine  of  not  less  than  fifty 
dollars  nor  more  than  one  hundred  dollars  nor  more  than  two 
hundred  and  fifty  dollars  for  each  subsequent  offense;  but 
any  policy  so  made,  issued  and  delivered  shall,  nevertheless, 
be  binding  upon  the  company  issuing  the  same,  and  such 
company  shall  thereafter  be  disqualified  from  doing  any  insur- 
ance business  in  this  state. 


GENERAL  PROVISIONS,  FIRE  INSURANCE. 

1942 

Policies;  contents. 

Section  1942.  Every  insurance  corporation  doing  business 
on  the  mutual  plan  shall  contain  in  its  name,  which  shall  be 
upon  the  first  page  in  every  policy  or  renewal  receipt,  the  word 
mutual,  and  if  doing  business  as  a  cash  stock  corporation  it 
shall,  upon  the  face  of  its  policies,  express  that  it  is  a  stock 
policy. 

1942—1  (Ch.  555,  1907.) 

Surplus  in  domestic  fire  company;  limitation. 

Section  1942—1.  All  of  the  surplus  of  any  domestic  mutual 
fire  insurance  company  doing  business  on  the  mutual  plan  in 
excess  of  two  per  cent,  of  the  total  amount  of  its  outstanding 
fire  risks  shall  be  distributed  annually  pro  rata  among  the 
members  of  said  company  within  sixty  days  after  the  holding 
of  its  annual  meeting,  provided  such  total  surplus  shall  equal 
or  exceed  three  per  cent,  of  the  amount  of  such  outstanding 
risks. 


77  FIRE  POL.ICIES.  1943 

1943 

Realty  insuraaice;  valued  policy. 
Section  1943.  AVhenever  any  policy  of  insurance  shall  be 
written  to  insure  real  property  and  the  property  insured  shall 
be  wholly  destroyed,  without  criminal  fault  on  the  part  of  the 
insured  or  his  assigns,  the  amount  of  the  insurance  written  in 
such  policy  shall  be  taken  conclusively  to  be  the  true  value  of 
the  property  when  insured  and  the  true  amount  of  loss  and 
measure  of  damages  when  destroyed. 

1943a 

Policy  clauses;  cash  value,  measure  of;  co-insurance; 
separate  rates;  forfeiture. 
Section  1943a.  No  fire  insurance  company  doing  business 
in  this  state  shall  issue  any  policy  containing  any  provision 
limiting  the  amount  to  be  paid  in  case  of  loss  below  the  actual 
cash  value  of  the  property,  if  within  the  amount  of  the  insur- 
ance for  which  premium  is  paid,  and  no  such  company  shall 
require  the  use  of  any  so-called  co-insurance  clause  or  rider  to 
be  attached  or  made  a  part  of  any  policy  except  at  the  option 
of  the  insured,  and  every  such  company  shall  give  to  every  ap- 
plicant for  insurance  the  rate  of  premium  demanded  with  and 
without  such  clause  or  rider.  The  commissioner  of  insurance, 
upon  evidence  furnished  to  him  that  any  such  company  has 
failed  when  requested  to  furnish  any  applicant  for  insurance 
such  separate  rates,  shall  forthwith  revoke  the  license  of  said 
company  and  all  its  agents.  If  any  company  which  violates 
any  provision  of  this  section  is  incorporated  under  the  laws  of 
this  state  such  violation  shall  be  cause  for  forfeiting  its  charter, 
and  the  attorney-general  shall  institute  proceedings  to  have 
such  forfeiture  declared. 

1943b 

Rates;   combination;  local  boards  of  underwriters;  for- 
feiture. 

Section  1943b.  No  fire,  fire  and  marine,  or  marine,  and  in- 
land insurance  company  or  association,  its  agent  or  representa- 
tive doing  business  in  this  state,  shall,  either  directly  or  in- 
directly, enter  into  any  contract,  agreement,  combination  or 
compact  with  any  other  such  company  or  companies  or  its  or 
their  agents  or  representatives  for  the  purpose  of  establishing 
and  maintaining  a  fixed  schedule  or  schedules  of  rates;  pro- 
vided, that  in  cities  and  villages  it  shall  be  lawful  for  the  local 
board  of  underwriters  incorporated  under  the  statutes  of  this 
state,  and  in  case  of  the  non-existence  of  such  board  therein 


19431  DISCRIMINATION.  78 

for  an  association  of  the  local  agents  in  such  city  or  village  to, 
from  time  to  time,  establish  and  maintain  rates  therein,  and  for 
them  and  such  companies  represented  by  them  to  enter  into  any 
lawful  contract  or  agreement  to  so  establish  and  maintain  rates 
so  made;  all  such  schedules  shall  at  all  reasonable  times  be 
open  to  the  inspection  of  the  insured  or  any  person  applying 
for  insurance.  The  commissoner  of  insurance  shall  revoke  the 
license  of  every  such  company  which  violates  any  provision  of 
this  section  and  shall  report  such  violation  to  the  attorney  gen- 
eral, who  shall  prosecute  the  same  and  every  such  company 
shall,  for  each  and  every  such  violation,  forfeit  five  hundred 
dollars. 

14931  (Ch.  159,  1909,  in  effect  May  19,  1909.) 

Insurance  other  than  life ;  discrimination  prohibited ;  com- 
panies; agents.     ' 

Section  1943  1.  No  insurance  company  doing  business  in  this 
state,  other  than  a  life  insurance  company,  and  no  agent,  officer, 
or  employe  thereof,  shall  offer  to  pay  or  allow,  or  offer  or  agree 
to  pay  or  allow,  as  an  inducement  to  an  insurance,  any  rebate 
of  the  premium  paid  or  payable  under  its  policy,  or  any  special 
favor,  advantage,  benefit,  valuable  consideration  or  inducement 
whatever  not  specified  in  its  policy.  Any  person  violating  this 
section  shall  be  subject  to  sub-section  4,  5,  6,  7  and  8  of  section 
1955o,  of  the  statutes. 

1944 

Premium  notes;  contents;  defenses. 

Section  1944.  Every  promissory  note  or  obligation,  except 
ordinary  notes  received  in  payment  of  premiums  for  policies 
issued  on  the  cash  basis,  taken  by  any  fire  insurance  corpora- 
tion doing  business  in  this  state  or  by  any  agent  thereof,  for 
which  the  consideration  in  whole  or  in  part  shall  be  the  issuing 
of  a  policy  of  insurance,  shall  have  written  in  the  body  thereof 
the  words  "given  in  payment  for.  a  policy  of  insurance  and  if 
transferred  either  before  or  after  maturity  shall  remain  subject 
to  all  defenses."  Such  notes  or  obligations  shall  be  subject  to 
all  defenses  the  maker  thereof  may  or  could  have  against  the  or- 
iginal promisee  in  whosesoever  hands  the  same  may  be ;  and  if 
any  such  corporation  or  agent  thereof  shall  take  any  such  note 
or  obligation  not  so  written  such  corporation  shall  forfeit  its 
license  to  do  business  in  this  state. 


79  NOTES,  APPLICATION,  ASSESSMENT.  1945 

1945 

P  Premium  notes;  insolvency,  effect. 
J  Section  1945.  Every  note  or  obligation  given  in  payment 
of  any  premium  for  any  policy  of  insurance  issued  by  any 
;  fire  insurance  corporation  shall,  if  before  the  expiration  of  such 
policy  such  corporation  shall  become  insolvent  or  bankrupt 
;  become  utterly  void  in  whosesoever  hands  the  same  may  be 
so  far  as  the  premium  for  which  the  same  was  given  was  un- 
earned at  the  time  of  such  insolvency  or  bankruptcy. 

1945a  (1898;  ch.  51,  1905.) 

Appucauon  aivacnea  lo  policy. 

Section  lb>4oa.  All  tire  insurance  corporations,  except  mu- 
tual lire  insurance  corporations  organized  unaer  the  laws  of 
this  state,  shall,  upon  the  issue  or  renewal  of  any  policy,  at- 
tach to  such  policy  or  indorse  thereon  a  true  copy  of  any  ap- 
plication or  representations  of  the  assured,  which  Dy  the  terms 
of  such  policy  are  made  a  part  thereof  or  of  the  concract  of 
insurance  or  reierred  to  tiierem,  or  which  may  in  any  manner 
aliect  the  validity  of  such  policy.  The  omission  so  to  do  shall 
not  render  the  policy  invalid,  but,  if  any  corporation  neglect 
to  comply  with  the  requirements  of  this  section,  it  shall  for- 
ever be  precluded  from  pleading,  alleging  or  proving  such 
application  or  representations  or  any  part  thereof,  or  the 
falsity  thereof  or  any  part  thereof  in  any  action  upon  such 
policy;  and  the  plaintiff  in  any  such  action  shall  not  be  re- 
quired, in  order  to  recover,  either  to  plead  or  prove  such  ap- 
plication or  representations,  but  may  do  so  at  his  option. 

1945b 

Foreign,  fire,  life  or  accident  company;  limitation  of  ac- 
tion on  assessment. 
Section  1945b.  No  action  shall  be  brought  in  any  court  of 
this  state  by  the  receiver,  trustee  or  other  officer  or  person 
exercising  the  functions  of  a  receiver  to  recover  any  assess- 
ment made  by  a  foreign  mutual  fire,  life  or  accident  insurance 
company,  for  any  money  due  any  such  company  as  and  for 
dues  or  fees  on  account  of  insurance  therein,  whether  such  as- 
sessment be  made  by  the  company  or  the  receiver,  trustee  or 
other  officer  or  person  unless  such  action  be  begun  within  six 
months  after  such  assessment  is  made  or  the  liability,  to  pay 
such  dues  or  fees  accrued. 


1945c  FIRE  COMPANIES.  80^ 

1945c   (Ch.  106,  1909,  in  elt'ect  May  12,  1909.) 

J; ire  o&mpanies,  domestic,  risKs;  sprinkler  leakage;  ex- 
plosion; steam  boiler  excepted. 
Section  1945c.  Any  corporation  organized  under  the  laws 
of  this  state  for  the  insurance  of  property  against  loss  or 
damage  by  fire  and  lightning  may  also  insure  the  same  classes 
of  property,  subject  to  the  limitations  prescribed  by  the  law 
under  which  it  was  organized  or  is  governed  as  to  the  amount 
of  any  single  risk,  against  loss  or  damage  by  lightning,  hail, 
windstorms,  tornadoes,  cyclones,  *  *  ^*  hurricanes,  leak- 
age of  sprinklers  and  sprinkler  systems,  installed  or  maintained 
for  the  purpose  of  protection  against  fire  and  hy  explosions, 
whether  fire  ensues  or  not;  provided  the  same  shall  be  clearly  ex- 
pressed in  the  policy,  hut  nothing  herein' shall  he  construed  to 
em^power  such  companies  to  insure  against  loss  or  damage  to 
persons  or  property  resulting  from  explosions  of  steam  boilers. 

1945d 

Magistrate's  certificate  of  loss;  who  may  make. 

Section  1945d.  Whenever  any  policy  insuring  property 
against  damage  or  loss  from  any  cause  shall  require  the  in- 
sured, in  case  of  loss  or  damage  to  the  insured  property,  to 
furnish  the  insurer  a  certificate  or  statement  of  a  magistrate 
or  notary  public  concerning  the  property  insured  or  the  loss 
or  damage  thereto,  it  shall  be  a  compliance  with  any  such  pro- 
vision to  furnish  a  certificate  or  statement,  conforming  to  the 
requirements  of  the  policy  in  other  respects,  of  any  magistrate 
or  notary  public  residing  in  the  county  where  the  loss  or  dam- 
age occurred,  who  shall  not  be  interested  in  the  claim  or  re- 
lated to  the  insured. 

1945e   (1898:  ch.  227,  1901;  ch.  432,  1907.) 

Fire,  casualty  and  surety  compaiiies  to  do  business 
through  resident  agent;  penalty. 
Section  1945e.  No  fire,  casualty  or  surety  insurance  com- 
pany not  incorporated  under  the  laws  of  this  state  shall  write 
or  cause  to  be  written,  any  policy  except  through  its  resident 
agent  duly  authorized  by  the  commissioner  of  insurance.  Any 
company  or  person  who  shall  solicit  or  place  insurance  in  a 
fire,  casualty  or  surety  insurance  company,  not  authorized  to 
do  business  in  this  state  shall,  in  the  event  of  the  failure  of 
such  unauthorized  company  to  pay  any  claim  or  loss  within 
the  policy  issued,  be  liable  to  the  insured  for  the  amount 
thereof  to  the  extent  that  such  company  would  have  been  lia- 


81  FIRE  COMPANIES.  1946f 

ble ;  and  such  company  or  agent  shall,  on  satisfactory  proof  of 
violation  of  either  o±  the  toregoing  provisions  made  to  the 
commissioner  of  insurance,  have  its  or  his  authority  to  trans- 
act business  in  this  state  revoked  for  a  period  of  not  less  than 
ninety  days,  and  shall  not  again  be  permitted  to  do  business 
herein  until  all  liability  for  such  violation  shall  be  discharged 
and  the  provisions  of  these  statutes  concerning  the  admission 
of  foreign  lire,  casualty  or  surety  insurance  companies  to  do 
business  in  this  state  be  complied  with.  Whenever  said  com- 
missioner shall  receive  notice  of  the  violation  of  any  provision 
of  this  section  he  shall  forthwith,  in  person  or  by  his  deputy, 
visit  the  office  of  the  company  or  any  insurance  agent  charged 
with  such  violation,  and  demand  an  inspection  of  the  books 
and  records  thereof;  and  any  company  or  such  agent  refusing 
to  permit  such  inspection  shall  be  deemed  guilty  of  violating 
this  section,  and  such  commissioner  shall  enforce  the  penal- 
ties herein  provided  against  the  same.  The  commissioner 
shall  receive  as  compensation  for  such  inspection,  ten  dollars 
for  each  day  he  is  engaged  therein  and  be  reimbursed  his 
necessary  traveling  expenses;  both  of  which  sums  he  shall 
collect  from  the  company,  if  he  find  the  same  guilty;  other- 
wise he  shall  be  paid  and  reimbursed  out  of  any  funds  in  his 
hands  available  for  that  purpose. 

See  sections  1919a,  1976.  Compare  sections  1919a,  1919b,  1919c, 
1919d. 

1945f 

Directors;  classification;  term  of  oflBce. 

Section  1945f.  Any  fire  insurance  company  oarganized  un- 
der any  special  law  of  this  state  may  classify  its  directors  so 
that  a  proportionate  number  of  them  shall  hold  for  one,  two 
and  three  years  respectively. 

See  sections  1978  1,  1978m. 

1945g 

Lloyds  insurance;  resident  agent;  local  office. 

Section  1945g.  Persons  and  corporations  of  this  state  may 
unite  with  themselves  or  with  persons  and  corporations  of  ad- 
joining states  in  making  and  entering  into  agreements  to  in- 
demnify each  other  for  any  losses  arising  from  fire  to  their  man- 
ufacturing plants  or  the  stock,  manufactured  or  unmanufac- 
tured, on  hand,  on  such  terms,  in  such  manner,  in  such  propor- 
tions and  amounts  and  during  such  time  as  may  be  agreed 
upon  between  them  in  writing;  and  for  the  purpose  of  the  con- 
venient transaction  of  such  business  and  the  speedy  payment 
n— T.  T,. 


1945h  FIRE  COMPANIES.  82      ; 

of  losses  incurred  therein  they  may  appoint  an  agent  or  attor- 
ney to  act  for  them  or  each  of  them  in  the  said  business,  and 
may  pay  in  and  accumulate  a  fund  for  the  payment  of  such 
losses  and  of  the  expenses  of  the  business.  Before  making 
any  such  agreement  they  shall  appoint,  by  writing  filed  with 
the  commissioner  of  insurance,  an  agent  or  attorney,  resident 
of  this  state,  on  whom  all  process  or  papers  concerning  or 
growing  out  of  the  said  business  may  be  served,  and  service  on 
such  agent  shall  be  equivalent  to  personal  service  on  all  such 
persons  and  corporations.  They  shall  at  all  times  maintain 
an  office  in  some  city  of  over  ten  thousand  inhabitants  in  this 
state,  and  all  such  business  shall  be  transacted  at  such  office. 
Each  person  and  corporation  so  making  or  signing  any  such 
contract  shall  be  severally  but  not  jointly  liable  thereon  for 
their  proportionate  amount  of  the  idemnity  in  such  contract 
stated,  and  shall  not  be  liable  otherwise  or  for  any  greater  sum. 

I945h 

Liabilities  of  directors  of  mutual  fire  companies. 

Section  1945h.  The  directors  of  every  mutual  fire  insurance 
corporation  shall  be  personally  liable  for  all  dues  owing  and 
assessments  made  and  policies  written  upon  property  in  any 
other  state,  territory  or  foreign  country  in  which  the  corporation 
has  not  been  duly  admitted  to  do  business  and  wherein  such 
policies  have  been  issued  in  violation  of  the  law  of  such  state, 
territory  or  foreign  country;  provided,  this  section  shall  not 
apply  to  church  mutual  insurance  companies. 

lM5i 

Assessments  by  foreign  company. 

Section  1945i,  The  secretary  or  some  other  officer  of  every 
foreign  mutual  fire  insurance  company  licensed  to  do  business 
in  this  state  shall,  immediately  after  making  an  assessment  upon 
any  of  its  members  herein,  notify  the  commissioner  of  insur- 
ance thereof  and  accompany  sucli^  notice  with  a  statement  of 
the  condition  of  the  company,  setting  forth  therein  in  particu- 
lar the  facts  showing  the  necessity  for  each  assessment  made. 
No  such  company  shall  make  or  increase  any  such  assessment 
because  of  its  inability  to  collect  assessments  from  its  members 
in  states  or  territories  in  which  it  was  not  authorized  to  do  busi- 
ness and  wherein  its  policies  were  written  in  violation  of  the 
laws  thereof ;  provided,  that  this  section  shall  not  apply  to 
church  mutual  insurance  companies. 


83  MISREPRESENTATION.  1946 

Agents  in  Milwaukee  to  report;  forfeiture. 

Section  1946.  Every  person  who  shall,  in  the  city  of  Mil- 
waukee, as  agent  or  otherwise  for  any  fire  insurance  corpora- 
tion, effect  or  agree  to  effect  any  insurance  shall,  on  or  before 
the  tenth  day  of  February  in  each  j^ear  and  whenever  he  shall 
change  his  place  of  doing  business  in  said  city,  report  in  writ- 
ing to  the  treasurer  of  the  fire  department  of  such  city  the 
street  and  number  of  his  place  of  doing  business,  specifying 
for  what  corporation  he  acts  as  agent;  and  for  every  default 
in  any  of  these  particulars  such  person  shall  forfeit  one  hun- 
dred dollars. 

Section  1946  is  referred  to  in  1946c. 


MISREPRESENTATION. 

1946a 

Representation  as  to  assets. 

Section  1946a.  It  shall  not  be  lawful  for  any  company 
corporation,  association,  individual  or  individuals,  now  trans- 
acting or  which  may  transact  the  business  of  insurance  within 
this  state,  to  state  or  represent  by  advertisement  in  any  form 
any  funds  as  assets  to  be  in  its,  his  or  their  possession  and  not 
so  actually  possessed  and  available  for  the  payment  of  losses  and 
held  for  the  protection  of  the  holders  of  policies  of .  insurance ; 
and  such  statement  shall  also  show  the  amount  available  and 
held  in  the  United  States. 

Section  1946a  is  referred  to  in  1946e. 

1946b 

Misrepresentation;  capital;  surplus. 

Section  1946b.  Every  advertisement  or  public  announce- 
ment and  every  sign,  circular  or  card  hereafter  made  or  issued 
by  any  company,  corporation,  association,  individual  or  indi- 
viduals, or  any  officer,  agent,  manager  or  legal  representative 
thereof,  which  is  or  may  be  authorized  to  transact  the  business 
of  insurance  within  this  state  shall  purport  to  make  known 
the  financial  standing  of  any  such  company,  corporation,  as- 
sociation, individual  or  individuals  shall  exhibit  the  capital  ac- 
tually paid  in  in  cash  and  the  amount  of  its,  his  or  their  net 
surplus  of  assets  over  all  liabilities  actually  available  for  the 
payment  of  losses  and  held  for  the  protection  of  holders  of  their 
policies  of  insurance,  including  in  such  liabilities  capital  actually 
paid  in  and  the  fund  reserved  for  re-insurance  of  outstanding 


1946c  MISREPRESENTATION.  84 

risks,  and  shall  correspond  with  the  verified  statement  made  by 
the  company,  corporation,  association,  individual  or  individuals 
making  or  issuing  the  same  to  the  insurance  department  of  this 
state  next  preceding  the  making  or  issuing  of  the  same;  but  in 
policies  or  renewals  thereof  there  may  be  stated  a  single  item 
showing  the  amount  of  authorized  capital. 
Section  1946b  is  referred  to  in  1946e. 

1946c 

Misrepresentation;    risks;   evidence;   penalty. 

Section  1946c,  It  shall  be  unlawful  for  any  company,  asso- 
ciation or  corporation  transacting  the  business  of  insurance  in 
this  state  to  publish  or  cause  to  be  published,  or  permit  to  be 
published  by  any  of  its  agents  or  with  the  knowledge  or  eon- 
sent  of  any  of  them,  any  statement  which  shall  represent  said 
company,  association  or  corporation  as  writing  risks  different 
in  nature  or  class  from  those  actually  written  by  it,  or  shall 
represent  said  company,  association  or  corporation  as  confining 
its  business  to  a  particular  class  of  risks  when  it  is  in  reality 
writing  risks  of  another  class.  The  distribution  of  any  cards 
or  other  documents  by  any  such  agent  containing  such  decep- 
tive representations,  or  the  existence  of  any  sign  exposed  to 
public  view  containing  them  and  belonging  to  any  such  com- 
pany, association  or  corporation  or  any  agent  thereof,  or  the 
existence  of  any  advertisement  or  card  or  statement  containing 
any  such  deceptive  representations  in  any  newspaper  published' 
in  any  town,  village  or  city  in  which  said  company,  association 
or  corporation  has  an  agent  transacting  business  or  soliciting 
insurance  shall  be  prima  facie  evidence  of  the  violation  of  this 
section  by  said  company,  association  or  corporation.  In  addi- 
tion to  the  penalty  provided  in  section  1946,  which  is  hereby 
made  applicable  to  this  section,  the  commissioner  of  insurance 
shall  revoke  the  license  of  any  company,  association  or  corpora- 
tion which  shall  be  convicted  of  violating  this  section,  and  the 
licenses  of  all  its  agents  for  the  transaction  of  the  business  of 
insurance  within  this  state,  immediately  upon  the  filing  of  a 
certified  copy  of  the  record  of  such  conviction  with  said  com- 
missoner.  Whenever  there  shall  be  filed  with  him  an  affidavit 
containing  a  statement  of  facts  constituting  prima  facie  evi- 
dence of  the  violation  of  this  section  by  any  such  company,  as- 
sociation or  corporation  the  commissioner  phall  immediately 
notify  it  of  such  filing  and  require  such  company,  association 
or  corporation  to  show  cause  before  him,  within  thirty  days  from 
such  notification,  why  its  license  should  not  be  revoked;  and 
if  such  company,  association  or  corporation  shall  fail  within  the 


85  MISREPRESENTATION.  1946d 

j  time  specified  to  establish  to  the  satisfaction  of  said  commis- 
sioner that  it  has  not  violated  this  section  in  the  manner  al- 
leged in  such  affidavit  he  shall  immediately  revoke  the  license 
of  said  company,  association  or  corporation  and  the  license  of 
all  agents  for  the  transaction  of  the  business  of  insurance  with- 
in this  state.  No  license  to  transact  such  business  within  this 
state  shall  be  granted  to  any  company,  association  or  corporation 
or  to  any  agent  thereof  for  said  company,  association  or  cor- 
poration for  one  year  from  the  date  when  its  license  was  so  re- 
voked. 

Section  1946c  is  referred  to  in  1946e. 

1946d 

Cajicellation  of  policy;  return  of  premium;  short  rate. 

Section  1946d.  Any  company,  association  or  corporation 
transacting  the  business  of  insuring  property  against  loss  or 
damage  from  any  cause  shall,  except  as  is  otherwise  provided 
by  any  provision  applicable  to  any  class  of  insurance  com- 
panies, cancel  any  policy  at  any  time,  by  request  of  the  party 
insured  or  his  assignee,  and  return  to  said  party  the  amount 
of  premium  paid,  less  the  customary  short-rate  premium  for 
the  expired  portion  of  the  full  term  the  policy  has  been  issued. 

1946e 

Penalties  for  misrepresentations. 

Section  1946e.  Any  violation  of  any  provision  of  sections 
1946a.  1946b,  or  1946c  shall,  for  the  first  offense,  subject  the 
company,  corporation,  association  or  individual  so  violating 
to  a  penalty  of  five  hundred  dollars,  to  be  sued  for  and  re- 
covered in  the  name  of  the  state,  with  costs  and  expenses  of 
such  prosecution,  by  the  district  attorney  of  any  county  in  which 
the  company,  corporation,  association,  individual  or  individuals 
shall  be  located  or  may  transact  business  or  in  any  county  where 
such  offense  may  be  committed;  and  such  penalty,  when  re- 
covered, shall  be  paid  into  the  treasury  of  such  county  for  the 
benefit  of  the  school  fund.  Every  subsequent  violation  shall 
subiect  the  company,  corporation,  association,  individual  or  in- 
dividuals guilty  of  such  violation  to  a  penalty  of  not  less  than 
one  thousand  dollars,  which  shall  be  sued  for,  recovered  and 
disposed  of  in  like  manner  as  for  the  first  offense. 

1946f  rCh.  126.  1907.) 

Misrepresentation;   estimates;   nature   of  policies;   other 
fe  companies:  penalty. 

Section  1946f.  No  life  insurance  corporation  doing  busi- 
ness in  this  state,  and  no  officer,  director,  or  agent  thereof, 


1946g  STATE  FIRE  MARSHAL.  86 

shall  issue  or  circulate,  or  cause  or  permit  to  be  issued  or  cir- 
<'ulated,  any  estimate,  illustration,  circular  or  statement  of 
any  sort  misrepresenting  the  terms  of  any  policy  issued  by  it, 
or  advantages  promised  thereby,  or  the  dividends  or  share  of 
surplus  to  be  received  therefrom,  or  shall  use  any  title  of  any 
policy  or  class  of  policies,  misrepresenting  the  true  jiature 
thereof,  and  no  life  insurance  company,  its  officers,  directors  or 
agents,  shall  issue  or  circulate  or  cause  or  permit  to  be  issued 
or  circulated,  any  written  circular  or  statement  of  any  sort, 
wilfully  misrepresenting  any  other  company,  the  nature  or 
terms  of  its  policy  or  policies,  its  premium  charge  or  dividends 
allowed  or  returned  by  such  other  company. 

Any  officer,  director  or  agent  aforesaid,  found  guilty  of 
violating  any  of  the  provisions  of  this  act,  shall  be  punished 
by  a  fine  of  not  less  than  twenty-five  dollars  nor  more  than 
three  hundred  dollars,  or  by  imprisonment  in  the  county  jail 
for  a  term  not  exceeding  six  months. 


STATE  FIRE  MARSHAL. 

1946g  (Ch.  228,  1907.) 

Appointment;  confirmation;  removal. 

Section  1946g.  The  governor  is  hereby  authorized  and  em- 
powered to  appoint  within  thirty  days  after  this  act  shall 
take  effect,  and  every  six  years  thereafter,  between  the  fif- 
teenth day  of  January  and  the  first  day  of  February,  by  and 
with  the  advice  and  consent  of  the  senate  and  also  within 
thirty  days  after  the  occurrence  of  a  vacancy  in  the  office,  a 
suitable  person  who  shall  be  a  citizen  of  this  state,  as  state 
fire  marshal,  who  shall  hold  the  office  until  his  successor  is 
appointed  and  qualified,  the  title  of  which  office  shall  be 
state  fire  marshal.  Such  officer  shall  keep  his  office  in  the 
eapitol,  in  the  city  of  Madison,  and  may  be  removed  for 
cause  at  any  time  by  the  governor. 

1946h  (Ch.  228,  1907:  ch.  211.  1909,  in  effect  May  29,  1909.) 
Assistants:  deDnties:  qualifications. 
Section  1946h  The  state  fire  marshal  is  hereby  empowered 
and  reouired  to  appoint  one  chief  assistant  fire  marshal  and 
two  deDutv  fire  marshals  to  be  desisrnated  as  first  and  second 
deDuHes.  *  *  *  The  duties  of  the  said  chief  assistant  and 
deputies  shall  be  to  assist  the  state  fire  marshal.  In  the  event 
of  a  vacancy  in  the  office  of  the  state  fire  marshal,  or  during 
the  absence  or  disability  of  that  officer,  the  chief  assistant 
shall  perform  the  duties  of  the  office. 


87  STATE  FIRE  MARSHAL.  19461 

19461  (Ch.  228,  1907.) 

Duties;  investigation  of  fires. 

Section  19461.  1.  The  state  fire  marshal  and  the  chief  of 
the  fire  department  of  every  city  or  village  in  which  a 
fire  department  is  established,  and  the  mayor  of  every  in- 
corporated city,  and  the  president  of  the  village  board  of 
every  incorporated  village  in  which  no  fire  department  exists, 
and  the  town  clerk  of  every  organized  township  within  the 
limits  of  any  organized  city  or  village  shall  investigate  or 
cause  to  be  investigated  the  cause,  origin  and  circumstances 
of  every  fire  occurring  in  such  city,  village  or  town  by  which 
property  has  been  destroyed  or  damaged  when  the  damage 
exceeds  twenty-five  dollars,  except  that  all  fires  of  unknown 
origin  shall  be  reported,  and  shall  especially  make  investi- 
gation as  to  whether  such  fire  was  the  result  of  carelessness 
accident  or  design. 

Investigation  within  two  days. 

2.  Such  investigation  shall  be  begun  within  two  days  of 
the  occurrence  of  such  fire,  and  the  state  fire  marshal  shall 
have  the  right  to  supervise  and  direct  such  investigation 
whenever  he  deems  it  expedient  or  necessary. 

Notice  to  state  fire  marshal ;  statement. 

3.  The  officer  making  investigation  of  fires  occurring  in 
(jties,  villages  and  towns  shall  forthwith  notify  said  state 
fire  marshal  and  shall  within  one  week  of  the  occurrence  of 
the  fire,  furnish  to  the  said  state  fire  marshal  a  written  state- 
ment of  all  the  facts  relating  to  the  cause  and  origin  of  the 
fire,  and  such  further  information  as  may  be  called  for  by  the 
blanks  furnished  by  said  state  fire  marshal.  The  state  fire 
marshal  shall  keep  in  his  Office  a  record  of  all  fires  occurring 
ill  the  state,  together  with  all  facts,  statistics  and  circum- 
stances including  the  origin  of  the  fires,  which  may  be  de- 
termined by  the  investigations  provided  by  this  act;  such 
statistics  shall  be  at  all  times  open  to  the  public  inspection. 

1946J   fCh.  228,  1907;  ch.  211,  1909;  in  effect  May  29,  1909.) 
Arson ;  prosecution ;  testimony ;  arrest ;  record. 

Section  1946j.  1.  The  state  fire  marshal  shall,  when  in  his 
opinion  further  investigation  is  necessary,  take  or  cause  to  be 
taken  the  testimony  on  oath  of  all  persons  supposed  to  be 
cognizant  of  any  facts  or  to  have  any  means  of  knowledge 
in  relation  to  the  matter  as  to  which  an  examination  is  herein 
required  to  be  made,  and  shall  cause  the  same  to  be  reduced 


1946k  STATE  FIRE  MARSHAL.  88 

to  writing;  and  if  he  shall  be  of  the  opinion  that  there  is  evi- 
dence sufficient  to  charge  any  person  with  the  crime  of  arson, 
he  shall  cause  such  person  to  be  arrested  and  charged  with 
such  offense,  and  shall  furnish  to  the  proper  prosecuting  at- 
torney all  such  evidence,  together  with  the  copy  of  all  names 
of  witnesses  and  all  the  information  obtained  by  him,  includ> 
ing  a  copy  of  all  pertinent  and  material  testimony  taken  in 
the  case ;  and  shall  keep  a  record  of  the  proceedings  and  prog- 
ress made  in  all  such  prosecutions  for  arson  and  the  result 
of  all  cases  finally  disposed  of. 

2.  It  shall  he  the  duty  of  the  attorney  in  the  state  fire  mar- 
shal's department  to  assist  in  performing  the  duties  and  work 
of  said  department,  to  assist  in  the  taking  of  testimony  and 
cross  examination  of  witnesses  in  cases  under  investigation  hy 
said  department,  and  to  aid  and  assist  district  attorneys  in  the 
prosecution  of  all  arson  cases  in  all  the  courts  of  the  state. 

1946k  (Ch.  228,  1907.) 

Powers;  witnesses;  fees. 

Section  1946k.  1.  The  state  fire  marshal,  chief  assistant 
marshal,  and  deputy  state  fire  marshals  shall  each  have  the 
power  in  any  county  of  the  state  of  Wisconsin,  to  summon 
and  compel  the  attendance  of  witnesses  before  them,  or 
either  of  them,  to  testify  in  relation  to  any  matter  which  is 
by  the  provisions  of  this  act,  a  subject  of  inquiry  and  investi- 
gation, and  may  require  the  production  of  any  book,  paper 
or  document  deemed  pertinent  thereto  by  them  or  either  of 
them  Such  witness  shall  be  subpoenaed  in  the  same  manner 
as  witnesses  in  circuit  court.  They  shall  receive  the  same- 
compensation,  which  shall  be  paid  out  of  the  fire  marshal 
fund,  upon  vouchers  signed  by  the  state  fire  marshal,  chief 
assistant  fire  marshal,  or  deputv  fire  marshal,  before  whom 
any  witnesses  shall  have  attended,  and  such  officer  shall  at 
the  close  of  the  investigation  wherein  such  witness  was  sub-  ' 
poenaed  certify  to  the  aUendance  and  mileage  of  such  witness, 
which  certificate  shall  be  filed  ip  the  office  of  the  state  fire 
marshal.  All  investigations  held  by  or  under  the  direction 
of  said  state  fire  marshal,  or  his  subordinates,  may,  in  his  dis- 
cretion, be  private,  and  persons  other  than  those  required  to 
be  present  by  the  provisions  of  this  act.  may  be  excluded 
from  the  place  where  such  investigation  is  held,  and  witnesses 
may  be  kept  separate  and  apart  from  each  other  and  not 
allowed  to  communicate  with  each  other  until  they  have  been 
examined. 


89  STATE  FIRE  MARSHAL.  1946k 

1946k  (2,  3)   (Ch.  228,  1907;  ch.  211,  1909,  in  effect  May  29, 
1909.) 
Oaths;  perjury. 

2.  Said  state  fire  marshal,  chief  assistant  fire  marshal,  * 
*  deputy  state  fire  marshals,  and  assistant  state  fire  mar- 
shals are  hereby  authorized  and  empowered  to  administer 
oaths  and  affirmations  to  any  person  appearing  as  witnesses 
before  them;  and  false  swearing  in  any  matter  or  proceeding 
aforesaid  shall  be  deemed  perjury  and  shall  be  punished  as 
such. 

Contempt;  penalty. 

3.  Any  witness  who  refuses  to  be  sworn,  or  who  refuses  to 
testify,  or  who  disobeys  any  lawful  order  of  said  state  fire 
marshal,  chief  assistant  fire  marshal,  *  *  *  deputy  state 
fire  marshals,  or  assistant  state  fire  marshals,  in  relation  to 
said  investigation,  or  who  fails  or  refuses  to  produce  any 
paper,  book,  or  document  touching  any  matter  under  exam- 
ination, or  who  is  guilty  of  any  contemptuous  conduct,  after 
l)eing  summoned  to  appear  before  them,  or  either  of  them,  to 
give  testimony  in  relation  to  any  matter  or  subject  under  ex- 
amination or  investigation  as  aforesaid,  may  be  summaril^^ 
punished  by  the  state  fire  marshal,  chief  assistant  fire  mar- 
shal, *  *  *  deputy  state  fire  marshals,  or  assistant  state 
fire  marshals  as  for  contempt  by  a  fine  in  a  sum  not  exceeding 
one  hundred  dollars  or  be  committed  to  the  county  jail  until 
such  time  as  such  persons  may  be  willing  to  comply  with  an^^ 
reasonable  order  made  by  the  said  state  fire  marshal,  chief 
assistant  fire  marshal,  *.  *  *  deputy  state  fire  marshals, 
or  assistant  state  fire  marshals  as  provided  in  this  act,  and  sub- 
ject to  the  provisions  of  section  3577  of  the  statutes  of  1898. 

1946k  (Ch.  228,  1907.) 

View  of  premises  after  fire. 

4.  Said  state  fire  marshal  and  his  subordinates,  or  either 
of  them,  shall  have  the  authority  at  all  reasonable  hours  in 
performance  of  the  duties  imposed  by  the  provisions  of  this 
act,  to  enter  upon  and  examine  any  building  or  premises 
where  any  fire  has  occurred,  and  other  buildings  or  premises 
adjoining  or  near  the  same. 

19461  (Ch.  228,  1907.) 
View  of  building. 
Section  19461.     1.  The  state  fire  marshal,  his  chief  assist- 
ant and  deputies,  upon  complaint  of  any  person,  or  without 


1946m  STATE  FIRE  MARSHAL.  90 

any  complaint  previously  entered,  shall  have  a  right  at  all 
reasonable  hours,  for  the  purpose  of  examination,  to  enter  into 
and  upon  all  buildings  and  premises  within  their  jurisdiction. 

Dangerous  premises;  order. 

2.  Whenever  any  of  said  ofticers  shall  find  any  building 
or  other  structure,  which  for  want  of  repair,  or  by  reason 
of  age  or  dilapidated  condition,  or  for  any  other  cause  is  es- 
pecially liable  to  fire,  and  which  is  so  situated  as  to  endanger 
other  buildings  and  property,  and  whenever  any  such  othcers 
shall  find  in  any  building,  or  upon  any  premises,  any  combus- 
tible or  explosive  material,  or  infiammable  conditions,  dan- 
gerous to  the  safety  of  said  buildings  or  premises,  they  shall 
have  power  to  make  reasonable  orders  for  the  repair  or  re- 
moval of  the  same,  and  such  order  shall  be  forthwith  complied 
with  by  the  owner  or  occupant  of  said  premises  or  building. 

Penalty  for  disobeying  reasonable  order. 

3.  Any  owner  or  occupant  of  buildings  or  premises  failing 
to  comply  with  any  reasonable  order  of  the  authorities,  above 
specified,  shall  be  punished  by  a  fine  of  not  less  than  ten 
dollars  nor  more  than  fifty  dollars  for  each  day's  neglect,  in 
any  action  to  be  brought  by  any  of  the  officers  above  referred 
to  in  any  municipal  or  justice  court  in  the  county  where  such 
owner  or  occupant  is  resident. 

Section  1946  1  is  referred  to  in  1946m. 

1946m.  (Ch.  228,  1907.) 

Officer  neglecting  to  comply  with  law;  penalty. 

Section  1946m.  Any  officer  referred  to  in  section  19461 
of  this  act,  who  neglects  to  comply  with  any  of  the  require- 
ments of  this  act  shall  upon  conviction  be  punished  by  a  fine 
of  not  less  than  twenty-five  dollars  nor  more  than  two  hun- 
dred dollars  for  each  neglect  or  violation. 

1946n  (Ch.  228,  1907.) 
Salaries;  officers'  fees. 

Section  1946n.  1.  The  state  fire  marshal  shall  receive  an 
annual  salary  of  three  thousand  dollars,  the  chief  assistant 
fire  marshal  shall  receive  an  annual  salary  of  two  thousand 
five  hundred  dollars,  the  first  deputy  marshal  one  thousand 
eight  hundred  dollars,  and  the  second  depilty  marshal  one 
thousand  five  hundred  dollars.  All  officers  who  shall  perform 
any  service  at  the   request   of  any  such  state  fire   marshal, 


91  STATE  FIRE  MARSHAL.  1946n 

chief  assistant  fire  marshal,  or  deputy  fire  marshal,  shall 
receive  the  same  fees  as  officers  in  justice  courts,  and  such 
fees  shall  be  paid  out  of  the  fire  marshal  fund  in  the  same 
manner  as  witnesses  testifying  under  this  act. 

1946n(2)    (Ch.  228,  1907;  ch.  211,  1909,  in  effect  May  29,  1909.) 
Clerks;  assistants;  attorney  at  law;  expenses. 

2.  Said  state  fire  marshal  shall  employ  clerks  and  assistants, 
at  least  one  of  whom  shall  he  an  attorney -at -law,  and  incur 
such  other  expense  as  may  be  necessary  in  the  performance  of 
the  duties  of  the  office,  including  necessary  traveling  expenses, 
not  to  exceed,  including  salaries,  such  sum  as  may  be  paid  to 
the  state  treasury  in  the  manner  hereinafter  provided. 

1946n(3)    (Ch.  228,  1907,  ch.  390,  1909,  in  effect  June  15,  1909.) 
Tax  on  fire  companies;  town  mutuals  excepted;  expenses 
limited. 

3.  For  the  purpose  of  maintaining  the  department  of  state 
fire  marshal  and  paying  all  the  expenses  incident  thereto, 
every  fire  insurance  company  doing  business  in  the  state  of 
Wisconsin,  except  town  mutual  insurance  companies  hereto- 
fore or  hereafcer  organized  under  the  provisions  of  section 
1927,  statutes  of  1898,  and  the  acts  amendatory  thereof,  shall 
pay  to  the  *  *  *  commissioner  of  insurance  within  thirty 
days  after  the  passage  and  publication  of  this  act  and  *  * 
*  on  or  before  the  first  day  of  February,  annually  thereafter 
in  addition  to  the  taxes  now  required  by  law  to  be  paid  by 
such  company,  *  *  *  three-eighths  of  one  per  cent,  on 
the  gross  premium  and  assessment  receipts  of  such  com- 
panies on  all  business  done  in  Wisconsin  in  the  year  next 
preceding,  as  shown  by  their  annual  statements  under  oath 
to  the  insurance  department.  The  cmnmissioner  of  insurance 
shall  pay  over  the  moneys  thy^  collected  to  the  state  treasurer. 
The  money  so  received  into  the  treasury  shall  be  set  aside 
as  a  special  fund  for  the  maintenance  of  such  office  of  state 
fire  marshal  and  the  expenses  incident  thereto.  The  state 
shall  not  be  liable  in  any  manner  for  the  salary  of  said  fire 
marshal,  his  deputies,  clerks,  assistants,  employes  or  for  the 
maintenance  of  the  office  of  fire  marshal  or  any  expenses  in- 
cident thereto,  and  the  same  shall  be  payable  only  from  the 
special  fund  provided  for  in  this  subsection. 

1946n  (Ch.  228,  1907.) 
Omission  of  tax. 

4.  Whenever  at  any  time  there  shall  accumulate  in  the 
special  fund  a  surplus  sufficient  to  maintain  the  department  of 


19460  STATE  FIRE  MARSHAL.  92 

the  state  fire  marshal  for  the  period  of  one  year,  then  in  the 
discretion  of  the  state  fire  marshal,  the  foregoing  special  tax 
for  such  year  may  be  omitted. 

Expense  accounts  and  vouchers. 

5.  The  state  fire  marshal  shall  keep  on  file  m  his  office  an 
itemized  statement  of  all  expenses  incurred  .^y  his  depart- 
ment and  shall  approve  all  vouchers  issued  therefor,  before 
the  same  are  submitted  to  the  secretary  of  state  for  payment, 
which  said  voucher  shall  be  allowed  and  paid  in  the  same 
manner  as  other  claims  against  the  state. 

19460  (Ch.  228,  1907.) 

State  fire  marshal  not  to  engage  in  other  business. 

Section  1946o.  The  state  fire  marshal  shall  not  engage  in 
any  other  business,  and  he  or  one  of  his  chief  subordinates 
shall  at  all  times  be  in  the  office  of  ttie  fire  marshal  ready  for 
such  duties  as  are  required  by  this  act. 

1946p  (Ch.  228,  1907.) 

Annual  report  to  governor. 

Section  1946p.  The  fire  marshal  shall  submit  annually  as 
early  as  consistent  with  full  and  accurate  preparation,  and  not 
later  than  the  fifteenth  day  of  February,  a  detailed  report  of 
his  official  action  to  the  governor. 

1946q  (Ch.  228,  1907.) 

Fees  to  municipal  officers  for  reporting  fires. 

Section  1946q.  1.  There  shall  be  paid  to  the  chiefs  of  fire 
departments,  and  to  mayors  of  cities,  who  do  not  receive  to 
exceed  fifty  dollars  annually  as  compensation  for  their  serv- 
ices as  such  chiefs  and  mayors,  and  to  presidents  of  the  vil- 
lage boards,  and  to  the  township  clerk  of  every  organized 
township,  who  are  by  this  act  required  to  report  fires  to  the 
state  fire  marshal,  the  sum  of  tw^  dollars  for  each  fire  reported 
to  the  satisfaction  of  the  state  fire  marshal,  and  in  addition 
thereto,  mileage  at  the  rate  of  ten  cents  per  mile  for  each  mile 
traveled  to  and  from  the  place  of  the  fire.  Said  allowance 
shall  be  paid  by  the  state  fire  marshal  at  the  close  of  each  fiscal 
year  out  of  any  funds  appropriated  as  heretofore  provided  for 
the  use  of  the  office  of  said  state  fire  marshal. 

Salaried  chiefs  and  mayors  excepted. 
2.  All  chiefs  of  departments  who  receive  a  stated  salary  and 
devote  their  entire  time  to  the  duties  of  chief  of  the  depart- 


93  LIFE  COMPANIES.  1946x 

ment,  and  those  mayors  of  cities  who  receive  a  stated  salary 
exceeding  fifty  dollars,  and  such  officer,  shall  be  precluded 
from  receiving  any  extra  allowance  for  the  report  herein  men- 
tioned. 


LIFE  INSURANCE  COMPANIES. 

1946X  (Ch.  637,  1907.) 

Definitions,  life  companies. 

Section  1946x.  Unless  the  context  of  any  statute  or  law 
relating  to  life  insurance  indicates  otherwise,  the  following 
words  and  phrases  shall  be  understood  in  the  sense  herein 
set  forth  and  defined: 

Amount  at  risk. 

1.  The  ''amount  at  risk,"  in  any  policy  year,  is  the  differ- 
ence between  the  sum  insured  in  such  policy  year  and  the 
terminal  reserve  for  such  policy  year. 

Beneficiary. 

2.  ''Beneficiary"  is  the  person  in  whose  favor  a  policy  is 
written. 

Company. 

3.  "Company."  includes  all  corporations,  associations,  part- 
nerships or  individuals  engaged  as  principals  in  the  business 
of  life  insurance,  except  fraternal  or  beneficiary  corporations, 
societies,  orders  or  associations  for  the  relief  of  members  or 
beneficiaries,  orders  or  associations  for  the  relief  of  members  on 
the  mutual  or  assessment  plan. 

Deposit. 

4.  "Deposit,"  is  the  terminal  reserve  on  a  policy  discounted 
to  the  beginning  of  the  policy  year  at  the  rate  of  interest  as- 
sumed. ' 

Domestic  company. 

5.  "Domestic  company,"  is  any  company  organized  or  in- 
corporated under  the  laws  of  this  state. 

1946x  (Ch.  120,  1909,  in  effect  May  13,  1909.) 
Expense  charge. 

6.  The  "expense  charge,"  for  any  policy  year  is  the  excess 
of  the  stipulated  premium  for  such  policy  year  and  the  terminal 
reserve  of  the  preceding  policy  year  over  the  sum  of  the  mor- 
tality charges  and  deposit  for  such  policy  year.     •     •    • 


1946X  LIFE  COMPANIES.  94 

1946x  (Ch.  637,  1907.) 
Foreign  company. 

7.  ''Foreign  company,''  is  any  company  not  organized  or 
incorporated  under  the  laws  of  this  state. 

Insured. 

8.  "Insured,"  is  the  person  upon  whose  life  the  contract 
of  insurance  is  written. 

Mortality  charge. 

9.  ''Mortality  charge,"  is  the  provision  made  in  the  policy 
at  the  beginning  of  the  policy  year  for  the  mortality  on  ac- 
count of  such  policy  year,  according  to  the  expense  charges 
assumed,  the  table  of  mortality  adopted  and  the  rate  of  inter- 
est assumed. 

Policy. 

10.  "Policy,"  is  the  contract  issued  by  the  company  to  the 
insured. 

Policy  anniversary. 

11.  "Policy  anniversary,"  is  any  anniversary  of  the  date 
of  the  policy. 

Policy  year. 

12.  "Policy  year,"  is  the  year  beginning  with  the  date  of 
the  policy  or  any  anniversary  thereof. 

Premium. 

13.  "Premium,"  is  the  payment  stipulated  in  the  policy  to 
be  made  of  the  insured  to  the  company  during  any  one  policy 
year.  '  .  '    '  ."1 

Reserve. 

14.  The  "reserve,"  at  any  time  within  the  policy  year  is 
the  deposit  for  such  year  improved  at  the  assumed  rate  of  in- 
terest to  such  time  within  the  policy  year  together  with  the 
proportional  unused  part  of  the  mortality  charge  for  such  year. 

Sum  insured. 

15.  The  "sum  insured,"  under  a  policy  in  any  policy  year 
is  the  value  of  the  guaranteed  payments  and  benefits  stipulated 
to  be  made  or  granted  if  it  should  mature  within  such  policy 
year. 


95  DOMESTIC  LIFE  COMPANIES.  1947 

Terminal  reserve. 

16.  The  ''terminal  reserve."  is  the  reserve  at  the  end  of  the 
policy  year,  and  is  the  sum  sufficient,  with  the  premiums  com- 
ing due,  to  provide  for  the  future  expense  and  mortality 
charges,  and  mature  the  policy  according  to  its  terms,  all  com- 
puted upon  the  expense  charges  assumed,  the  table  of  mortal- 
ity, adopted  and  the  rate  of  interest  assumed. 

DOMESTIC  LIFE  COMPANIES. 

1947  (Ch.  640,  1907.) 

Organization ;  incorporators. 

Section  1947.  1.  Any  number  of  residents  of  this  state  not 
less  than  nine,  may  form  a  corporation  either  with  or  without 
pa  pita  1  stock  for  the  purpose  of  granting  insurance  upon  the 
lives  of  persons. 

Contents  of  articles. 

2.  Such  persons  shall  make,  sign  and  file  in  the  office  of 
the  commissioner  of  insurance  articles  of  organization  stating: 

fa)  That  they  associate  for  the  purpose  of  forming  a  cor- 
poration to  transact  the  business  of  insuring  lives,  stating  the 
nature  and  kind  thereof; 

(h)  The  name  of  the  corporation  and  the  place  where  thff 
principal  office  for  the  transaction  of  business  shall  be  located: 

(e)  The  capital  stock,  if  anv.  the  number  of  shares  thereof 
and  the  amount  of  each  share; 

(d)  The  desismation  of  the  general  officers,  and  the  number 
of  directors,  which  shall  not  be  less  than  seven ; 

(e)  The  mode  and  manner  of  electing  directors,  filling  va- 
cancies in  their  number,  and  their  terms  of  office; 

Cf)  The  period  for  the  c(>mmencement  and  termination  of 
their  fiscal  year ; 

(g)  Such  other  provisions  or  articles  not  inconsistent  witl 
law  as  they  may  deem  proper  to  be  inserted  therein  for  the 
interests  of  such  corporation  or  the  accomplishment  of  the  pur- 
poses thereof,  or  to  define  the  manner  in  which  the  corporate 
powers  granted  by  law  shall  be  exercised. 

1947(3^    (Ch.  39.  1909.  in  effect  Apr.  15,  1909.) 

Life  companies;  conditions  precedent  to  doinqf  business; 
risks,  minimum  number:  maximum  single;  special 
guaranty  fund;  capital  stock;  fee. 

3.  No  such  corporation  shall  transact  any  business  of  in- 
surance, until  all  the  following  condition  shall  be  complied 
with: 


1947  DOMESTIC  LIFE  COMPANIES.  96 

a.  If  organized  without  capital  stock  at  least  *  *  *  f^^Q 
hundred  persons  shall  have  subscribed  for  not  less  than  one 
thousand  dollars  of  insurance  each  and  passed  a  prescribed 
medical  examination  and  shall  have  each  paid  one  full  annual 
premium  in  cash  upon  the  insurance  subscribed  for,  amounting 
in  the  aggregate  to  at  least  twenty  thousand  dollars.  *  *  * 
Or,  in  lieu  of  such  subscriptions  for  insurance,  the  company 
shall  provide  and  hold  a  special  guaranty  fund  of  at  least 
twenty-five  thousand  dollars  in  cash  or  invested  as  prescribed 
in  section  1951  of  the  statutes,  to  be  used  for  no  purpose  other 
than  the  payment  of  death  losses,  until  the  largest  policy  in 
force,  deducting  any  reinsurance  thereon  in  authorized  compan- 
ies, shall  not  exceed  one-half  of  one  per  centum  of  the  total 
insurance  in  force,  deducting  all  such  reinsurance.  Such  com- 
pany may  borrow  a  sum  of  money  sufficient  to  provide  the 
amount  to  be  held  as  a  special  gauranty  fund  and  an  additional 
sum  to  defray  the  expenses  of  organization  not  exceeding  ten 
thousand  dollars.  This  loan  shall  not  be  a  liability  and  the 
agreement  therefor  shall  so  provide  and  that  the  principal  and 
interest  thereon  shall  only  be  repaid  from  assets  in  excess  of 
all  liabilities.  The  aareement  shall  also  provide  for  interest  at 
a  rate  not  exceedina  eight  per  centum  per  annum  and  after  the 
release  of  the  svecial  guaranty  fund  the  principal  shall  be  re- 
padd  in  the  discretion  of  the  board  of  directors  or  at  such  times 
OS  fixed  in  said  aareement.  Solicitation  of  Subscriptions  for 
insurance  under  this  section  may  be  made  by  agents  holding  a 
certificate  of  authority  to  be  issued  by  the  commissioner  of  in- 
surance. Every  application  for  such  insurance  shall  contain 
a  statement  that  the  issuance  of  the  policy  is  contingent  upov 
ths  completion  of  the  organization  of  the  company. 

1947 (3>(b)    rCh   39,  1909,  in  effect  Apr.  15,  1909.) 

ft.  *  *  *  If  organized,  with  capital  stock,  until  a  capital 
stock  of  at  least  one  hundred  thousand  dollars  *  *  *  and 
a  special  survlus  of  at  least  twenty-five  thousand  dollars  shall 
have  been  subscribed  for  and  fully  paid  in  and  is  held  in  cash  or 
invested  as  provided  in  section  *  *  *  :/p5:/  of  the  statutes 
No  part  of  such  special  surplus  shall  be  used  for  any  purpose 
other  than  the  payment  of  death  losses  while  the  largest  policy 
in  force,  deducting  any  reinsurance  thereon  in  authorized  com- 
panies, shall  exceed'  one-half  of  one  per  centum  of  the  total  in- 
surance in  force,  deducting  all  such  reinsurance. 

c.  *  *  •  There  shall  have  been  paid  to  the  insurance 
commissioDfr  in  case  of  a  corporation  organized  without  cap- 


97  DOMESTIC  LIFE  COMPANIES.  1947 

ital  stock,  a  fee  of  one  hundred  dollars,  and  in  case  of  a  cor- 
poration organized  with  capital  stock,  a  fee  equal  to  that  re- 
quired upon  the  incorporation  of  other  corporations  under  chap- 
ter 86  of  the  statutes,  but  no  such  fees  shall  be  required  to  be 
paid  until  at  the  time  of  the  issuing  of  the  certificate  of  author- 
ity under  subsection  d. 

d.  A  certificate  shall  have  been  made  and  filed  by  the  com- 
missioner of  insurance  in  his  office  setting  forth  that  such  cor- 
poration has  complied  with  all  the  provisions  of  the  law  and 
is  authorized  to  transact  the  business  of  life  insurance. 

General  corporation  laws  applicable;  filing  articles  and 
amendments;  fees;  first  meeting. 

4.  The  provisions  of  chapter  86  of  the  statutes  and  acts  amen- 
datory thereof  relating  to  corporations  under  the  general  law 
shall  apply  to  all  corporations  mentioned  in  this  section  except 
so  far  as  the  same  are  inconsistent  with  the  provisions  of  the 
law  relating  to  life  insurance  companies.  The  manner  of  filing 
articles  of  incorporation  shall  be  the  same,  except  that  such 
articles  shall  be  filed  with  and  the  fees  paid  to  the  commissioner 
of  insurance.  The  manner  of  filing  amendments  and  the  fee 
upon  the  filing  of  any  amendment  shall  be  the  same,  except  that 
such  amendment  shall  be  filed  with  and  the  fees  paid  to  the 
•commissioner  of  insurance.  In  case  the  corporation  is  formed 
without  capital  stock  the  signers  of  the  articles  shall  subject 
to  the  approval  of  the  commissioner  of  insurance  fix  the  time  and 
place  for  the  first  meeting  for  the  election  of  officers,  which  time 
and  place  shall  be  specified  in  the  certificate  of  authority  to  do 
business  heretofore  mentioned;  but  the  signers  of  such  articles 
shall  give  written  not'ce  thereof  by  mail  to  each  person  subscrib- 
ing for  insurance  at  least  twenty  days  prior  to  the  holding  of 
such  meeting. 

Licenses  requisite  for  all  life  insurance;  revocation  for 
removal  of  actions ;  service  of  process. 

5.  No  life  insurance  corporation  whatever  shall  do  any  busi- 
ness in  this  state,  nor  shall  any  person  act  as  agent  or  otherwise 
within  this  state  in  receiving  or  procuring  applications  for  life 
insurance  or  in  any  manner  aid  in  transacting  such  business  for 
any  such  corporation  until  it  shall  have  first  procured  a  license 
from  said  commissioner  authoriz'ng  it  to  issue  policies  of  insur- 
ance in  this  state  and  have  paid  therefor  the  license  fee  required 
to  be  paid  by  section  1220.  provided,  that  in  case  any  such  life 
insurance  corporation  organized  under  the  laws  of  any  other 

7-1.   L. 


1947a  DOMESTIC  MUTUAL  LIFE  COMPANIES.  98 

state  or  country,  having  procured  license  as  herein  provided, 
shall  remove  or  make  application  to  remove  into  any  court  of 
the  United  States  any  action  or  proceeding  begun  in  any  court 
of  this  state  upon  a  claim  or  cause  of  action  ar'sing  out  of  any 
business  or  transaction  done  in  this  state  it  shall  be  and  is  hereby 
made  the  imperative  duty  of  the  commissioner  to  revoke  any 
and  every  authority,  license  or  certificate  granted  to  such  cor- 
poration or  any  agent  thereof  to  transact  any  business  in  this 
state,  and  no  such  corporation  or  agent  thereof  shall  thereafter 
transact  any  business  of  insurance  in  this  state,  till  again  duly 
authorized,  and  no  renewal,  license  or  cert'ficate  of  authority 
shall  be  granted  to  such  corporation  for  three  years  after  such 
revocation;  and,  provided  further,  that  if  the  license  of  any  such 
corporation  shall  be  revoked  as  aforesaid,  the  attorney  last  ap- 
pointed and  the  agent  last  designated  as  acting  as  such  for  it 
shall  continue  attorney  and  agent  for  the  purpose  of  servmg 
process  for  beginning  actions  upon  any  policy  or  liability  in- 
curred or  contracted  in  this  state,  while  it  transacted  business 
there'n  so  long  as  any  such  liability  shall  exist. 

Section  1947  is  referred  to  in  1947a. 

1947a  (Ch.  104,  1903.) 

Stock  life  company  may  write  accident  and  health  in- 
surance. 

Section  1947a.  Any  life  insurance  company,  incorporated 
under  section  1947  of  the  statutes  of  the  year  1898,  with  a  cap- 
ital stock  of  one  hundred  thousand  dollars  fully  paid  up,  may 
engage  in  the  business  of  personal,  accident  and  health  insur- 
ance, as  its  articles  of  associat'on  shall  provide,  and  may  issue 
such  contracts  either  independently  of  or  in  conjunction  with 
its  life  or  endowment  policies.  Any  foreign  life  company  by 
comply'ng  with  this  section,  may  also  be  licensed  to  transact 
such  business,  provided,  that  every  such  company  shall  first 
comply  with  all  the  laws  of  Wisconsin  relating  to  the  business 
of  personal,  accident  and  health  insurance.  All  acts  or  parts 
of  acts  in  conflict  with  the  provisions  of  this  act  are  hereby  re- 
pealed. 

DOMESTIC  MUTUAL  LIFE  COMPANIES. 

1947c  (Ch.  667,  1907.) 

Election;  votes;  cumulative  vote;  assignee;  qualification 
for  office;  vacancy. 

Section  1947c.  At  every  general  election  of  directors  or 
trustees  in  any  domestic  mutual  life  insurance  company,  whether 


99  DOMESTIC  MUTUAL  LIFE  COMPANIES.  1947d 

incorporated  by  special  act  or  general  law  and  anything  to  the 
contrary  ^n  its  charter,  certificate,  articles  of  incorporation  or 
by-laws,  notwithstanding,  every  policy  holder  whose  insurance 
shall  be.  in  force,  and  shall  have  been  in  force  for  at  least  one 
>  car  prior  thereto,  shall  be  entitled  to  one  vote  without  other 
qualification.  Every  policy  holder  entitled  to  vote  shall  have 
the  same  number  of  votes  irrespective  of  the  number  of  policies 
or  the  amount  of  insurance  held  by  him,  and  shall  have  one  vote 
for  each  director  to  be  elected,  and  may  cast  all  such  votes  for 
one  candidate  or  distribute  them  among  the  number  as  he  may 
elect.  Unless  a  poPcy  shall  have  been  assigned  more  than  six 
months  prior  to  the  election  by  an  assignment  absolute  on  its  face 
to  an  assignee  other  than. the  company  which  shall  have  issued 
the  policy,  the  person  upon  whose  application  the  policy  shall 
have  been  issued,  and  if  the  application  be  signed  by  more  than 
one  person,  each  person  whose  life  is  insured  shall  be  deemed 
to  be  a  policy  holder  entitled  to  vote  as  aforesaid.  In  case  the 
policy  shall  have  been  assigned  as  aforesaid,  the  assignee  shall 
be  deemed  to  be  a  policy  holder  entitled  to  vote,  provided  his 
sis-nature,  either  attested  by  the  assignor  or  acknowledged  in 
like  manner  as  in  case  of  a  deed  to  be  recorded  in  this  state, 
shall  have  been  filed  at  the  home  office  of  the  company.  Any 
policv  holder  entitled  to  vote  at  any  election  shall  be  qualified 
to  fill  anv  office  to  be  voted  for  at  any  such  election.  Such  a  gen- 
eral election  shall  be  held  at  intervals  of  not  more  than  two 
years.  At  each  such  election  not  less  than  one-fourth  of  the 
total  number  of  directors  provided  for  in  the  charter  or  articles 
shall  be  elected.  No  appointment  or  selection  of  a  director  to 
fill  a  vacancy  other  than  when  made  by  general  election  shall 
extend  beyond  the  next  general  election. 

1947d  (Ch.  667,  1907.) 

Lists  of  policy  holders;  arrangement;  how  furnished;  re- 
turns. 

Section  1947d.  Upon  written  request,  filed  w^'th  the  com- 
pany, at  the  time  of  making  the  nomination,  and  within  thirty 
days  thereafter,  the  company  shall,  at  its  own  expense,  furnish 
to  the  policy  holders  makinsr  nominat^'on  of  an  independent 
ticket  a  full  and  complete  printed  list  of  the  names  and  last 
known  postoffice  addresses  of  all  policy  holders  whose  insurance 
was  in  force  twelve  months  prior  to  the  day  fixed  for  an  election. 
Such  list  shall  be  made  separately  for  each  state,  territory  and 
county  and  shall  be  elass'fied  by  postoffice  addresses  and  the 
names  shall  be  arranged  alphabetically.     The  company  shall  mail 


1947e  DOMESTIC  MUTUAL  LIFE  COMPANIES.  100 

to  each  such  policy  holder  one  list,  and  no  more,  for  each  state, 
territory  or  county  requested  by  him  as  above  provided.     Such 
list  shall  be  returned  to  the  home  office  of  the  company  within 
ten  days  after  such  election. 
See  sections    194 — 52. 

IMle  (Ch.  667,  1907.) 

Inspectors;  directors;  nominatic^ns  of  candidates. 

Section  1947e.  1.  At  least  three  months  prior  to  the  date 
of  any  general  election  of  d'rectors  or  trustees  in  any  such  com- 
pany, the  directors  or  tru'^tees  thereof  shall  appoint  three  qual- 
ified voters,  who  are  not  directors  or  trustees,  as  inspectors  of 
election,  who  shall  be  paid  by  the  company,  and  such  directors 
or  trustees  shall  suggest  the  name  of  a  person  as  candidate  for 
every  vacancy  to  be  filled  at  the  ensuing  election,  and  shall  file 
with  the  comm^'ssioner  of  insurance  a  certificate  thereof,  giving 
the  names,  occupations  and  addresses  of  the  inspectors  so  ap- 
pointed, and  the  persons  whose  names  have  been  so  suggested. 

Officers  not  to  assist  in  other  nomination  nor  use  money 
of  company;  penalty. 

2.  Any  afficer,  trustee,  agent  or  employe  of  such  company 
who  shall  d'rectly  or  indirectly  nominate  or  assist  or  encourage 
the  nomination  of  any  other  candidate  or  cand^'dates  for  the  office 
of  director  other  than  those  on  the  administration  ticket,  or  who 
shall  use  or  expend  any  of  the  property  or  funds  of  the  com- 
pany in  promoting  the  election  of  any  nominee,  candidate  or 
person  except  as  directed  or  authorized  in  this  act,  shall  be  guilty 
of  a  misdemeanor. 

Policy  Holders'  nominations. 

3.  Any  one  hundred  or  more  qualified  voters  of  such  comr 
pany  may  also  suggest  the  name  of  a  person  as  a  candidate  for 
one  or  more  of  the  vacanc'es  to  be  filled  at  any  such  ensuing 
election,  by  filing  with  the  commissioner  of  insurance,  and  with 
the  secretary  of  the  company  at  its  home  office,  not  more  than 
ninety  nor  less  than  sixty  days  prior  to  such  election,  a  certifi- 
cate signed  and  acknowledsred  by  them,  giving  the  names,  oc- 
cupations, and  addresses  of  the  persons  so  suggested  as  candi- 
dates, together  with  a  written  statement  signed  by  sa'd  candi- 
dates that  they  will  accept  such  office  if  elected. 

Vacancies  in  tickets. 

4.  In  case  of  the  death  or  resignation  or  incapacity  of  any 
person  so  suggested  as  a  candidate,  a  majority  of  the  board  of 
directors  or  trustees,  or  a  majority  of  the  persons  suggesting 


lai  DOMESTIC  MUTUAL  LIFE  COMPANIES  19471 

the  name  of  such  nominee,  may  suggest  the  name  of  another 
person  as  a  candidate  in  his  place,  by  filing  prior  to  the  day 
set  for  the  election  a  like  certificate  with  that  required  for  the 
original  nominations,  if  such  certificate  be  filed  more  than 
fifty  days  prior  to  the  election,  the  name  of  such  person  sug- 
gested as  a  candidate  shall  be  inserted  on  the  ballot  hereinafter 
mentioned.  i   '  » ,  >  ^ .    . 

1947f  (Ch.  667,  1907.)  ;    '   /,   >     .,,','   .„  ',^\,\ 

Ballots ;   envelopes ;  mailing ;   other  qu^siioa^ ;  .^,ujiio$i<j 
ballot. 

Section  iy4:7f.  In  case  any  nomination  other  than  the  di- 
rectors nomination  shall  be  made  the  company  shall  not  less 
than  forty-five  nor  more  than  seventy-five  days  from  the  elec- 
tion cause  to  be  mailed  in  a  sealed  and  postpaid  envelope,  to 
each  policy  holder  whose  name  shall  be  on  the  list  and  whose 
policy  shall  still  be  in  force  at  his  last  known  postoffice  ad- 
dress, a  suitable,  gummed  return  envelope  addressed  to  the 
home  of&ce  of  the  company  and  marked  "Ballot  for  directors," 
together  with  a  ballot  containing  in  two  columns  the  names  of 
candidates  nominated  as  hereinbefore  provided,  arranged  al- 
phabetically. One  column  designated,  "Directors  nominees" 
shall  contain  the  names  of  the  candidates  nominated  by  the 
directors  or  trustees.  Another  column  designated  "Indepen- 
dent nominees"  shall  contain  the  names  of  candidates  nom- 
inated by  the  policy  holders.  Where  any  other  question  is  to 
be  submitted  to  the  policy  holders  the  same  shall  be  voted  upon 
at  such  general  election  and  a  separate  ballot  shall  be  pro- 
vided and  mailed  with  the  other  ballots.  Such  separate  bal- 
lot shall  state  the  question  concisely  and  contain  space  for  vot- 
ing, thus: 


For. 


□  Against I 


No  other  papers  or  written  or  printed  matter  shall  be  en- 
closed with  such  ballet  and  envelope  and  specimens  of  the 
ballot  retura  envelope  and  sealed  envelope  shall  be  filed  with 
the  commissioner  of  insurance  before  being  so  mailed,  one 
duplicate  of  such  ballot  shall,  prior  to  the  election,  be  promptly 
I  furnished  by  mail  by  the  company  to  any  policy  holder  ap- 
plying therefor. 


1947g  DOMESTIC  MUTUAL  LIFE  COMPANIES.  102 

1947g  (Ch.  58,  1909,  in  effect  April  22,  1909.) 
Elections;  ballot;  form. 

Section  194:7g.  i.  The  prov'sions  contained  in  the  following 
instructions  to  policy  holders  shall  apply  to  and  govern  in  all 
such  elections.  All  votes  shall  be  by  ballot,  but  any  ballot  com- 
plying with  said  instructions  may  be  used.  No  ballot  shall  be 
received  or  counted  iinless  prepared  and  voted  substantially  as 
herein  pro'\^'d^d'.    '  ' 

2.  The  ballot  shall  be  in  the  following  form: 

J^ffllbtler'ferectadnVf  directors. 

For   (name  of  company,  home  office,  postoffice  address.) 

To  succeed  the  directors  whose  terms  expire  as  follows: 


Instructions  to  policy  holders. 

The  policy  holder  is  entitled  to  the  same  number  of  votes  ir- 
respective of  the  number  of  policies  and  amount  of  insurance 

held  by  him,  and  is  entitled  to  one  vote  for  each  of  the 

directors  to  be  elected,  and  may  cast  all  such  votes 

for  one  candidate  or  distribute  them  among  the  number  as  he 
may  elect.  Votes  shall  be  indicated  by  a  numeral  placed  after 
the  name  of  the  person  voted  for  thus:  ^'John  Doe,  Farmer, 
Madison,  Wisconsin,  (1.)" 

No  fractional  vote  will  be  recognized.  On  any  ballot  record- 
ing a  greater  number  than  authorized  only  the  first 

votes  will  be  recognized. 

The  ballot  shall  specify  the  number  of  at  least  one  policy 
held  by  the  policy  holder,  to  be  signed  by  him,  and  his  signature 
attested  by  a  subscribing  witness  and  shall  be  enclosed  in  a  sealed 
and  postpaid  envelope  marked  on  the  address  side,  ''Ballot  for 
directors,"  addressed  to  sa"d  company  at  its  home  office  without 
any  mark  or  designation  to  indicate  the  identity  of  the  voter 
mailing  the  same,  and  mailed  by  him  in  person  so  as  to  be  de- 
livered before  four  P.  M.  on   ^  190 

The  ballot  prepared  in  like  ma;nner,  without  being  postpaid, 
may  between  ten  A.  M.  and  four  P.  M.  in  said  day  be  voted  in 
person  by  the  policy  holder  at  the  home  office  of  the  company. 


103 


DOMESTIC  ATQTUAL  LIFE  COMPANIES. 


1947h 


Directors'  Nominations. 

Independent  Nominations. 

(John  Doe, 
farmer, 

Vote 
here. 

(Richard  Roe, 
banker, 

Milwaukee,  Wis.) 

Vote 
here. 

Attested  by Signed  by    . . 

P.  0.  address 


P.  0.  address  Policy  No 

3.  Provided  that  this  section  shall  not  apply  to  any  election  of 
trustees  where  no  nominati^on  other  than  that  of  the  trustees^ 
nomination  shall  have  been.  made. 

4.  JLnd  provided  further  that  no  vote  shall  he  valid  or  counted 
hy  the  inspectors  if  the  same  shall  have  been  cast  for  any  person 
other  than  one  suygested  as  a  candidate  in  the  certificate  or  cer- 
tificates of  nomination  filed  with  the  commissioner  of  insurance, 

1947h  (Ch.   667,  1907.) 

Place  of  election;  polls  open  when. 

Section  1947h.  All  elections  of  the  company  shall  he  held 
at  its  home  office  and  the  polls  shall  be  open  from  ten  o'clock 
in  the  forenoon  until  four  o'clock  in  the  afternoon  of  the  day 
of  the  election,  at  which  time  it  shall  be  closed  and  after  which 
time  no  ballot  shall  be  received. 

19471  (Ch.  667,  1907.) 

Receipt  of  ballots;  delivery  to  inspectors. 

Section  19471.  1.  All  envelopes  received  at  the  home  office 
of  the  company  before  the  polls  are  closed  on  the  day  of  elec- 
tion marked  substantially  as  "ballot  for  directors  (or  trus- 
tees)" shall  be  preserved  intact  without  opening,  and  before 
the  polls  are  closed  shall  be  delivered  to  the  inspectors  of 
election. 

Penalty  for  concealing  or  breaking. 

2.  Any  person  concealing  or  withholding,  or  participating 
in  the  concealment  or  withholding  from  the  inspectors  or  open- 
ing or  being  privy  to  the  opening  of  any  such  envelope  con- 
taining such  ballot,  except  as  authorized  by  law,  shall  be  guilty 
of  a  misdemeanor. 


1947J  DOMESTIC  MUTUAL  LIFE  COMPANIES,  104 

Canvass;  preservation. 

3.  All  ballots  voted  and  received  by  mail  or  otherwise,  or 
delivered  by  the  policy  holder  in  person  at  the  office  of  the  com- 
pany, shall  be  received  by  the  inspectors  subject  to  verifica- 
tion and  ascertainment  of  the  validity  thereof,  and  of  the  quali- 
fication of  the  voter;  and,  immediately  upon  the  closing  of  the 
polls  the  inspectors  shall  proceed  to  open  the  envelopes  con- 
taining such  ballots  and  to  the  examination  thereof,  and  shall 
canvass  all  the  votes  lawfully  cast.  The  canvass  shall  proceed 
from  day  to  day,  and  the  inspectors  shall  verify  the  result  to 
the  company  as  soon  as  it  is  completed.  Any  nominee  at  such 
election  may  be  present  during  the  casting  and  canvass  of  the 
vote.  All  ballots  and  envelopes  received  by  said  inspectors 
shall  immediately  upon  completion  of  the  canvass  be  placed  in 
sealed  packages  and  preserved  by  them  until  four  months  from 
the  date  of  the  election,  subject  to  the  order  of  any  court  having 
jurisdiction  of  any  proceeding  relating  thereto. 

Returns;  tie  votes. 

4.  The  inspectors  shall  sign  and  file  with  the  secretary  of 
the  company  and  commissioner  of  insurance  a  certificate  of  the 
result  of  the  election  stat'ng  the  names  of  all  persons  for  whom 
votes  have  been  cast  and  the  number  cast  for  each,  which  shall 
be  arranged  in  the  order  of  the  number  of  votes  cast  for  each 
person,  the  highest  being  placed  first,  the  next  highest  second 
and  so  on,  the  lowest  being  placed  last.  In  case  two  or  more 
persons  shall  have  secured  the  same  number  of  votes  the  in- 
spectors shall  decide  by  lot  which  shall  stand  highest  upon 
such  list. 

Terms  of  elected  candidates. 

5.  The  person  or  persons  standing  highest  on  such  I'st  to 
the  number  of  directors  to  be  chosen  for  the  longest  term  at 
such  election  shall  be  elected  to  such  longest  term.  The  per- 
son or  persons  standing  next  highest  on  such  list,  to  the  number 
of  directors  to  be  chosen  for  the  next  longest  term,  at  such 
election,  shall  be  elected  to  such  next  longest  term  and  so  on 
until  the  number  of  directors  voted  for  at  such  election  has 
been  elected. 

1947J   (Ch.  667,  1907.) 

Validity  of  policy  not  admitted  by  mailing  ballot. 

Section  1947j.  The  mailing  by  the  corporation  of  the  said 
ballot,  to  any  person  under  the  provisions  of  this  act  shall  not 


105  LIFE  COMPANIES.  1947k 

be  construed  as  an  admission  by  the  corporation  of  the  valid- 
ity of  any  policy,  or  of  the  fact  that  such  person  was  a  pol- 
icy holder  of  said  company;  and  no  such  mail.ng  shall  be  com- 
petent evidence  against  the  corporation  in  any  action  or  pro- 
ceeding, in  which  the  question  of  the  validity  of  any  policy 
or  of  any  claim  under  it,  is  involved. 

1947k  (Ch.  667,  1907.) 

Directors'  meetings;  when  held;  non-attendance  forfeits 
office;  ineligibility. 

Section  1917k.  The  trustees  or  directors  of  every  domestic 
mutual  life  insurance  company  aforesa"d,  shall  hold  regular 
meetings  at  least  once  each  quarter  upon  such  dates  as  shall  be 
designated  in  its  charter  or  articles  of  incorporation,  or  by  the 
by-laws  of  said  company.  Any  trustee  who  shall  absent  him- 
self from  three  consecutive  meetings  shall  forfeit  h's  office 
and  shall  not  be  eligible  to  election  again  for  a  period  of  six 
months. 

19470  (Ch.  146,  1907.) 

Participating  and  non-participating  policies  not  to  be  is- 
sued by  same  domestic  mutual  company. 

Section  1947o.  1.  After  the  year  1907,  no  domest'c  mutual 
life  insurance  company  and  no  domestic  stock  life  insurance 
company  hereafter  issuing  or  professing  to  issue  any  partici- 
pating policies  shall  issue  any  pol'cies  except  annuities,  which 
do  not,  by  their  terms,  give  to  the  holders  thereof  full  right 
to^articipate  in  the  accumulations  of  such  company  as  pro- 
vided by  the  laws  of  this  state. 

Nor  after  1907,  within  state,  by  foreign  company. 

2.  After  the  year  1907,  no  foreign  mutual  life  insurance 
company  and  no  foreign  stock  life  insurance  company  issuing 
or  professing  to  issue,  after  such  date,  any  participating  poli- 
cies, shall  issue  w'thin  this  state  any  policies  except  annuities, 
which  do  not,  by  their  terms  give  to  the  holders  thereof  full 
right  to  participate  as  aforesaid. 

Nor  after  1912,  by  any  foreign  company  transacting  busi- 
ness in  state. 

3.  After  the  year  1912,  no  foreign  mutual  life  insurance 
company  and  no  foreign  stock  life  'nsurance  company  issuing 
or  professing  to  issue,  after  such  date,  any  participating  poli- 
cies, shall  transact  business  in  this  state,  if  it  shall  issue  anv 


19470  LIFE  COMPANIES.  106 

policies  except  annuities,  which  do  not,   by  their  terms,  give 
to  the  holders  thereof  full  right  to  participate  as  aforesaid. 

Exceptions,  policies  issued  on  lapse  or  surrender. 

4.  This  section  shall  not  apply  to  paid-up  or  temporary  and 
pure  endowment  insurance  issued  or  granted  in  exchange  for 
lapsed  or  surrendered  policies. 

1947o(5)    (Ch.  449,  1909,  in  effect  June  18,  1909.) 
Exceptions;  separate  departments;  agreement. 

5.  This  section  shall  not  apply  to  any  company  which  keeps 
and  transacts  its  participating  and  non-participating  business 
in  separate  departments,  and  keeps  separate  accounts  and 
maintains  a  complete  separation  between  the  two  departments; 
and  which  shows  a  surplus  in  each  department  after  deducting 
any  funds  accumulated  for  the  payment  of  dividends  under 
section  1952f,  and  which  shall  file  with  the  commissioner  of 
insurance  an  agreement  for  the  benefit  of  all  policy  holders 
now  or  hereafter  residing  in  the  State  of  Wisconsin,  that,  in 
consideration  of  being  permitted  to  issue  non-participating  in- 
surance in  this  s^"ate,  no  part  of  the  funds  accumulated  or  be-, 
lonsring  to  the  partioir)ating  department  shall  ever  be  trans- 
ferred to  the  non-participating  department,  except  such  as  the 
existing  charter  of  the  company  or  its  policies  require. 

1947p  (Ch.  391,  1907.) 

Stock  life  c<?mpanies  to  make  statement  of  rijhts  of  stock- 
holders and  policy  holders  in  surplus. 

Section  1947p.  Every  stock  company  doing  life  insurance 
business  on  the  participating  plan  shall,  when  applying  to  do 
business  in  this  state,  and  before  any  license  or  certificate  of 
authority  shall  be  issued,  file  with  the  commissioner  of  insur- 
ance a  statement  under  oath  of  the  president  and  secretary, 
stating, 

(a)  The  amount  of  the  unassigned  surplus  of  such  com- 
pany; ^ 

b.  The  amount  of  said  surplus  belonging  to  the  policy- 
holders ; 

(c)  The  amount  of  such  surplus  belonging  to  the  stock- 
holders ; 

(d)  The  method  of  ascertainment  and  the  action  upon  the 
part  of  the  stockholders  or  such  company  determining  the 
rights  of  such  policyholders  and  stockholders  respectively. 

.    No  license,  certificate  or  authority  to  transact  business  in 
this  state  shall  be  issued  to  any  such  stock  company  until  such 


107  LIFE  COMPANIES.  1947r 

statement  is  made,  and  the  commissioner  of  insurance  is  sat- 
)  isfied  that  the  respective  rights  of  such  policyholders  are  fully 
and  legally  determined. 

1947r  (Ch.  621,  1907.) 

Salaries;  limitation;  vote  on  increase. 

Section  1947r.  No  domestic  life  insurance  company  trans- 
acting a  mutual  or  participating  business  shall  incur  or  ex- 
pend in  any  one  year  for  any  salary,  compensation  or  emolu- 
ment to  any  officer,  trustee,  director  or  salaried  employe  of 
such  company,  either  directly  or  indirectly,  any  sum  in  excess 
of  twenty-five  thousand  dollars,  unless  a  greater  maximum 
shall  have  been  fixed  by  a  majority  vote  of  the  policy-holders 
voting  at  any  regular  election  of  directors.  Notice  of  the 
submission  of  such  question  shall  be  given  by  mail  to  each  pol- 
icy holder  at  the  same  time  as  the  notice  of  election  is  re- 
quired to  be  given. 

1948  (1898;  ch.  132,  1907.) 

License  required  to  transact  business;  examination;  value 
of  policies. 

Section  1948.  No  company  shall  transact  business  in  this 
state  until  it  shall  have  obtained  a  license  therefor  from  the 
commissioner  of  insurance. 

No  such  license  shall  be  issued  until  the  company  has  com- 
plied with  all  the  requirements  of  the  laws  of  this  state,  nor 
until  after  such  examination  as  he  may  require,  the  commis- 
sioner is  satisfied  that  its  assets  are  properly  and  safely  se- 
cured and  exceed  its  liabilities,  valuing  its  policies  as  provided 
by  the  laws  of  this  state. 

Such  value  shall  be  computed  according  to  the  face  or 
nominal  sum  named  in  such  policies  or  certificates  of  member- 
ship, whether  payment  thereof  is  absolute  and  provided  for 
by  the  collection  of  fixed  premiums  or  is  contingent  upon  as- 
sessments to  be  levied  upon  and  collected  from  the  members 
of  such  corporation  or  company. 

1948m  (Ch.  108,  1909,  in  effect  July  1,  1909.) 

Life  companies,  policy  provisions;  industrial  excepted. 

Section  1948m.  After  the  year  1909  no  policy,  other  than 
a  policy  of  industrial  insurance  where  the  premiums  are  paj''- 
able  monthly  or  oftener,  shall  be  issued  or  delivered  in  this 
state,  unless  it  contains  in  substance  the  following  provisions : 


1949  LIFE  COMPANIES.  108 

Mortality  table ;  interest  rate ;  method ;  specified  in  policy. 

1.  Specifying  the  table  of  mortality  and  rate  of  interest 
and  method  upon  which  the  reserve  on  such  policy  is  to  be 
computed. 

Premium,  separate;  application  may  contain. 

2.  Specifying  separately  the  premium  charged  for  any  ben- 
efit promised  in  the  policy  other  than  life  or  endowment  in- 
surance, provided  that  any  company,  required  by  the  laws 
of  the  state  wherein  it  is  organized  to  issue  a  standard  form 
of  policy,  may  omit  provisions  1  and  2  from  its  policy  and 
insert  the  same  in  the  application,  if  a  copy  thereof  shall 
be  attached  to  the  policy  when  issued. 

Premium  loan;  automatic,  when. 

3.  That  upon  the  non-payment  of  any  premium  when  due, 
after  payment  of  premiums  for  (insert  a  number  not  exceed- 
ing three)  full  years,  the  same  shall  be  paid  by  being  charged 
as  a  loan  asrainst  the  policy  at  the  same  rate  of  interest  as 
therein  specified  for  other  policy  loans.  Such  loan  shall  be 
payable  at  any  time  at  the  option  of  the  insured,  and  shall 
become  due  and  payable  only  when  the  total  of  all  loans  and 
interest  shall  equal  the  reserve  less  the  surrender  charge  spec- 
ified in  the  policv.  In  such  case  each  premium  receipt  shall 
show  the  total  indebtedness  on  such  policy  to  the  company  nt 
the  date  of  such  receipt. 

Extended  insurance;  paid  up  insurance;  benefits  equiva- 
lents ;  term  insurance  excepted. 

4.  That  upon  the  non-payment  of  any  premium  when  due, 
after  payment  of  premiums  for  (insert  a  number  not  exceed- 
in  sr  three)  full  years,  the  insured  shall  be  granted  as  specified 
in  the  policv  either  extended  insurance  or  paid-up  insurancp. 
the  net  sinsrle  premium  on  which,  computed  on  the  mortalitv 
and  interest  assumptions  of  the  policy,  shall  at  anv  time  equal 
the  reserve  le^s  the  surrender  charge  specified  therein,  and 
less  any  existing  indebtedness  to  the  company  on  or  secured 
by  the  policy.  Provisions  3  and  4  shall  not  be  required  in 
term  insurance  of  twenty  years  or  less,  and  either  may  be 
automatic,  and  either  may  be  omitted. 

1949  riRPR,  oh   150.  1907.) 

Discontinuance  of  business;  notice  by  commissioner;  for^ 
feiture. 

Section  1949      Whenever  the  assets  of  any  life  insurance 
company  shall  not  equal  its  liabilities  computed  as  providec 


109  LIFE  COMPANIES.  19^0'>f^^    . 

\}y  section  1948,  the  commissioner  of  insurance  shall  giv€^.np-.^,fCilg^^^ 
lice  to  such  company  and  its  agents  to  discontinue  issuing^  ^ 
new  policies  within  this  state  until  such  time  as  its  assets 
have  become  equal  to  its  liabilities  computed  as  aforesaid. 
Any  officer  or  agent  who,  after  such  notice  has  been  given,  is- 
sues or  delivers  a  new  policy  for  and  on  behalf  of  such  cor- 
poration before  its  funds  shall  have  been  examined  by  the 
commissioner  and  a  new  certificate  of  authority  issued  shall 
forfeit  for  each  offense  not  less  than  one  hundred  dollars  not 
more  than  one  thousand  dollars. 

1950  (1898;  ch.  519,  1905;  ch.  209,  1909,  in  effect  Jan.  1,  1910.) 
Life  companies,  valuadon  of  policies;  basis;  method. 

Section  1950.  1.  Every  life  insurance  company  doing  busi- 
ness in  this  state  or  having  in  force  in  this  state,  policies  is- 
sued therein,  shall  hold  funds  properly  and  safely  secured  to 
provide  for  its  reserve  liability  over  and  above  all  its  other 
liabilities,  which  reserve  liability  shall  be  determined  by  the 
state  as  follows: 

a.  All  policies  issued  by  a  domestic  company  after  the  year 
1909  shall  be  valued  according  to  the  expense  charges  assumed, 
the  table  of  mortality  adopted,  and  the  rate  of  interest  assumed. 

b.  Any  policies  issued  by  a  foreign  company  after  the  year 
1909  may  be  valued  as  provided  in  subsection  a,  provided  the 
assumptions  as  to  mortality  and  interest  sJiall  coniform  to  the 
requirements  of  subsections  1  and  2  of  section  1950c,  and  pro- 
vided the  aggregate  liability  shall  not  be  less  than  that  result- 
ing from  a  valuation  under  the  laws  of  the  state  or  country 
where  the  home  office  of  said  company  is  located. 

c.  All  policies  issued  before  the  year  1910,  on  any  plan  not 
providing  in  every  year  for  fu:ll  net  level  premium  reserves  may 
he  valued  upo7i  such  plan  and  on  the  basis  of  either  the  Amer- 
ican Experience  or  the  Actuaries  Table  of  Mortality,  and  a 
rate  of  interest  not  higher  than  that  assumed  nor  higher  than 
four  and  one  half  per  centum  per  annum. 

d.  All  policies  for  which  no  other  method  of  valuAition  is  pro- 
vided shall  except  as  hereafter  provided  be  valued  on  a  net 
level  premium  reserve  basis  computed  on  either  the  American 
Experience  or  Actuaries  Table  of  Mortality  and  a  rate  of  in- 
terest, for  policies  issued  before  the  year  1910,  not  higher  than 
that  assumed  nor  higher  tlian  four  and  one  half  per  centum 
per  annum,  and  for  policies  issued  after  the  year  1909,  not 
higher  than  thai  assumed  nor  higher  than  four  per  centum  per 
annum. 


1950  LIFE  COMPANIES.  110 

e.  Any  policies  mentioned  in  subsections  b,  c,  and  d  may 
be  valued  to  produce  aggrepate  reserve  liabilities  in  excess 
of  those  required  by  said  subsections  but  not  greater  than  such 
as  would  result  from  valuing  the  same  on  the  basis  of  the  table 
of  mortality  adopted  with  interest  at  three  per  centum  per  an- 
num, jj^^ 

/.  The  commissioner  of  insurance  may  vary  the  standards 
of  interest  and  mortality  in  the  case  of  corporations  of  foreign 
countries  as  to  contracts  issued  by  such  corporation  in  other 
countries  than  the  Umted  States  and  in  particular  cases  of 
invalid  lives   and  other  extra  hazards,   and  value  policies  in 

groups  and  use  approxiwMte  averages  for  fractions  of  a  year. 

*  *     * 

Liability;  premium;  deficient. 

2.  In  every  case  in  which  the  actual  premium  charged  for 
an  insurance  is  less  than  the  net  premium  for  such  insurance, 

*  *  *  required  according  to  the  table  of  mortality  adopted 
and  rate  of  interest  assumed  *  *  *,  the  company  shall  also 
be  charged  with  the  present  value  of  an  annuity,  the  amount 
of  which  shall  equal  the  deficiency  by  reason  of  *  *  *  the 
preimum  charged  *  *  *  being  less  than  the  net  premium 
required     *     *     *. 

Expense  charge. 

3.  In  every  case  where  the  premium  stipulated  in  any  policy 
shall  provide  for  an  expense-charge  exceeding  in  any  year  the 
provision  for  expenses  in  such  year  the  valuation  shall  include 
a  liability  computed  on  the  basis  of  the  excess  of  such  expense- 
charge.     *     *     * 

Valuation;  department  of  foreign  state. 

4.  The  valuation  annually  made  and  accepted  by  the  insur- 
ance department  of  any  other  state  of  the  United  States  or 
any  Other  country  of  any  policies  of  a  company  located  in  such 
other  state  or  country,  if  such  valuation  shall  be  certified  as 
true  and  correct  by  the  insurance  commissioner,  or  like  officer, 
of  such  state  or  country,  shall  be  received  and  accepted  by  the 
commissioner  of  insurance  of  this  state,  and  no  further  valua- 
tion shall  be  required  or  be  mxide  by  him  for  the  year  for  which 
such  valuation  shall  be  so  certified^  provided  that  the  aggregate 
liability  so  determined  shall  not  be  less  than  the  liability  re- 
sulting from  a  valuation  made  under  the  laws  of  this  state. 

Valuation;  department  of  commerce  and  labor. 

5.  The  valuation  by  the  department  of  commerce  and  labor 
of  the   United  States,  authorized  by  any  law  thereof,  of  any 


ill  LIFE  COMPANIES.  1950a 

policies  of  a  company  located  outside  of  this  state,  if  conform- 
ing to  the  aforesaid  provisions  as  to  valuaton  by  the  commis- 
sioners or  iiHe  officers  of  such  other  stales  or  countries,  shall 
be  received  and  accepted  in  Like  manner. 

Valuation;  commissioner  to  make. 

6.  Except  as  aforesaid  the  comymssioner  of  insurance  shall 
annually  make  or  cause  to  be  made  valuations  of  all  outstand- 
ing policies,  additions  thereto,  and  other  obligations  of  every 
such  company  mentioned  in  subsection  1. 

Valuation;  commissioner  to  certify. 

7.  The  commissioner  of  insurance  siiall,  annually,  after  the 
year  1909,  upon  the  request  of  any  domestic  company,  without 
additional  charge  or  expense  to  it,  make  one  additional  valua- 
tion of  such  policies  according  to  such  standard,  as  it  shall 
specify.  Any  valuation  made  by  him  shall,  upon  request,  be 
ctrtified  to  the  commissioner  of  insurance  or  like  officer  of  any 
other  state  or  country. 

Valuation;  records  of. 

8.  All  valuations  made  by  the  state  shall  be  tabulated  and 
preserved  as  a  part  of  the  records  of  the  Department  of  insur- 
ance. Each  valuation  shall  be  accompanied  by  a  statement 
of  the  tables  of  mortality  used,  the  rates  of  interest  assumed, 
and  the  method  of  computation  employed. 

1950a  (Ch.  209,  1909,  in  effect  Jan.  1,  1910.) 
Valuation;  fee. 
Section  1950a.  There  shall  be  paid  by  every  life  insurance 
company  organized  in  this  state  and  by  every  life  insurance 
company  organized  under  the  laws  of  some  other  state  or  for- 
eign country,  if  no  certified  valuation  «=  *  *  lias  been  fur- 
nished as  herein  provided,  by  way  of  compensation  for  *  * 
*  the  valuation  of  its  policies  one  cent  on  every  one  thou- 
sand dollars  insured  by  it,  which  shall  be  paid  by  the  commis- 
sioner of  insurance  into  the  state  treasury.     *     *     * 

1950b   (Ch.  209,  1909,  in  effect  Jan.  1,  1910.) 

Life  companies;  from  foreign  countries;  valuation;  de- 
posit. 

Section  1950b.  Whenever  any  life  insurance  company,  or- 
ganized under  the  laws  of  any  foreign  country,  shall  have  been 
admitted,  it  shall  also  be  the  duty  of  the  commissioner  of  insur- 


1950c  LIFE  COMPANIES.  112 

ance  to  annually  and  separately  value  all  policies  written  in,  or 
on,  the  lives  of  residents  of  this  state,  and  it  shall  be  the  duty  of 
such  company,  as  one  of  the  conditions  of  renewal  of  license,  to 
invest,  and  at  all  times  keep  invested,  the  aggregate  net  value 
of  such  policies,  in  such  securities  as  provided  for  under  the 
laws  of  this  state,  and  deposit  such  aggregate  amount  in  such 
securities  at  the'r  book  value,  with  the  state  treasurer;  every 
such  company  depositing  such  securities  shall  have  the  right  to 
receive  the  income  thereof,  and  to  exchange  the  same  from  time 
to  time  for  like  securities  of  1  ke  value,  and  may  withdraw  such 
deposit  when  the  commissioner  of  insurance  shall  certify  that  all 
liability  arising  under  all  poLcies  or  contracts  issued  in  or  on 
the  lives  of  residents  of  this  state  has  been  satisfied,  and  that 
there  is  no  further  necessity  for  such  deposit. 

1950c  (Ch.  209,  1909,  in  effect  Jan.  1,  1910.)     . 

Life  companies,  valuation;  mortality  table;  interest  rate. 

Section  1950c.  1.  The  table  of  mortality  adopted,  if  other 
than  the  Amer.can  Experience,  the  Actuaries,  or  the  American 
Experience  Select,  (on  the  basis  that  the  rate  of  mortality  dur- 
ing the  first  five  years  after  the  date  of  insurance  shall  be  cal- 
culated according  to  the  following  percentages  of  the  rate  shown 
by  the  American  Experience  Table  of  Mortality,  to-wit:  First 
year  of  insurance  fifty  per  centum  thereof,  second  year  of  in- 
surance s'xty-five  per  centum  thereof,  third  year  of  insurance 
seventy-five  per  centum  thereof,  fourth  year  of  insurance  eighty- 
five  per  centum  thereof,  fifth  year  of  insurance  ninety-five  per 
centum  thereof,  and  for  each  year  thereafter  one  hundrd  per 
centum  thereof)  shall  not  exhibit  at  any  age  a  lower  death  rate 
than  that  shown  at  the  corresponding  age  and  duration  by  the 
British  Offices  Select  0  (M)  Mortality  Table. 

2.  The  rate  of  interest  assumed  in  computing  premiums  and 
reserves  shall  not  be  less  than  three,  nor  more  than  four  per  * 
centum  per  annum. 

1950d  (Ch.  536,  1909,  in  effect  June  22,  1909.) 
Valuation  of  policies;  industrial  insurance. 

Section  1950d.  1.  Policies  of  industrial  insurance  on  which 
the  premiums  are  payable  monthly  or  oftencr  shall  be  valued  to 
produce  reserves  not  less  than  those  computed  on  the  "Standard 
Industrial  Mortality  Table"  and  the  ''Substandard  Industrial 
Mortality  Table"  based  on  the  exper"ence  of  the  Metropolitan 
Life  Insurance  Company,  with  interest  at  three  and  one-half  per 
centum  per  annum. 


113  LIFE  COMPANIES.  1950m 

Valuation;  annuities. 

2.  Annuities  shall  be  valued  to  produce  reserves  not  less  than 
those  computed  on  "McClintock's  Tables  of  Mortality  among 
annuitants,"  with  interest  at  three  and  one-half  per  centum 
per  annum;  provided  that  any  table  not  exhibit'ng  at  any  age 
a  higher  death  rate  than  that  shown  at  the  corresponding  age 
and  duration  by  the  "British  Offices  Annuity  Tables  1893," 
may  be  used.  Annuities  granted  in  any  policy  of  life  insur- 
ance may  be  valued  in  like  manner  except  that  annuities  de- 
ferred for  ten  years  or  more  may  be  valued  on  the  table  of 
mortality  used  for  computing  the  premiums. 

Valuation;  disability. 

3.  The  reserves  computed  on  policies  insuring  aga'nst  dis- 
ability because  of  sickness  or  accident  shall  not  be  less  than 
those  determined  according  to  the  ''British  Friendly  Society 
Table  18;T6  to  1880,"  w'th  interest  at  three  and  one-half  per 
centum  per  annum.  The  commissioner  may  vary  the  standards 
in  cases  where  the  use  of  such  table  is  impracticable,  and  may 
also  require  additional  reserves  in  case  of  hazardous  occupations. 

Valuation;  exception;  policies  issued  prior  to  1907. 

4:.  This  section  shall  not  apply  to  any  policies  issued  prior  to 
1907. 

1950m  (Ch.  668,  1907.) 

Limitation  of  expense  provision  in  premiums. 

Section  1950m.  After  the  year  1907  no  foreign  life  insur- 
ance company  shall  issue  or  deliver  any  policy  in  this  state, 
and  no  domestic  life  insurance  company  shall  issue  or  deliver 
any  policy,  wherein  the  pi'3sent  value  of  the  premiums  stip- 
ulated to  be  paid  shall  exceed  the  sum  of: 

a.  The  net  single  premium  which  will  mature  the  policy 
according  to  its  terms  (exclusive  of  the  provisions  mentioned 
in  subdivision  b)  such  present  value  and  net  single  premium 
to  be  computed  on  the  basis  of  the  table  of  mortality  adopted 
and  the  rate  of   nterest  assumed;  and 

b.  An  amount  as  a  provision  for  expenses  and  contingencies 
equal  to  one-third  of  the  net  single  premium  on  an  ordinary- 
life  policy  insuring  the  same  sum  and  issued  at  the  same  age, 
computed  according  to  the  Amer'can  Experience  table  of  mor- 
tality with  interest  at  three  per  centum  per  annum. 

8-1.   L. 


1950n  LIFE  COMPANIES.  114 

First  and  subsequent  years. 

The  amount  provided  for  expenses  and  contingencies  for  any 
policy  year  (as  a  measure  for  first  and  subsequent  years)  shall 
not  exceed: 

(1)  In  the  first  year,  the  difference  between  the  mortality 
charge  computed  on  the  basis  of  no  deposit  for  such  year  and 
the  level  premium  on  a  twenty  annual  premium  payment  life 
policy  insuring  the  same  sum  and  issued  at  the  same  age  and 
computed  upon  the  same  table  of  mortality  and  rate  of  in- 
terest, and  the  maximum  provision  under  subdivision  b,  com- 
puted on  the  American  Experience  table  of  mortality  with 
interest  at  three  per  centum  per  annum,  together  with  the  ex- 
cess, if  any,  of  the  first  year's  premium  over  the  largest  subse- 
quent annual  premium  en  such  policy,  provided  the  first  year's 
expense  charge  on  any  policy  shall  in  no  case  exceed  the  dif- 
ference between  the  premium  and  the  mortality  charge  for  such 
year. 

(2)  In  any  one  of  the  four  succeeding  years,  one  and  one- 
half  the  amount  which  would  be  available  under  a  level  dis- 
tribution of  the  maximum  provision  under  subdivision  b;  over 
the  premium  paying  period  of  the  policy,  computed  upon  the 
American  Experience  table  of  mortality  with  interest  at  three 
per   centum  per   annum. 

(3)  In  any  year  after  the  fifth  year,  the  amount  which  would 
be  available  under  a  level  distribution  of  the  maximum  pro- 
vision under  subdivision  b,  over  the  premium  paying  period 
of  the  policy,  computed  upon  the  Am.erican  Experience  table  of 
mortality  with  interest  at  three  per  centum  per  annum. 

Exceptions. 
This   section   shall   not    apply   to   policies    of   industrial   in- 
surance. 

1950n  (Ch.  657,  1907.) 

Expenses;  first  year;  total;  aniiual  report;  form. 

Section  1950n.  Every  foreign  life  insurance  company  do- 
ing business  in  this  state  or  having  in  force  any  policies  issued 
in  this  state,  and  every  domestic  life  insurance  company,  shall, 
beginning  with  the  first  day  of  March,  1909,  and  on  the  first 
day  of  March  each  year  thereafter,  as  of  the  calendar  year  pre- 
ceding, make  a  report  in  writing  to  the  commissioner  of  insur- 
ance in  the  following  form : 

Report  of of  expense  charges  and  expendi- 
tures for  the  year  ending  December  31,  19 . . 


115  LIFE  COMPANIES.  1950n 


FIRST  YEAR  BUSINESS. 

(a)  Total  expense  charges  of  first  year  contained  in  premiums 

for  the  first  year  of  insurance  received  in  said  calendar 
year    $  • 

(b)  Total  expenses  incurred  or  paid: 

1.  For  commissions  on  first  year's  premiums $. 

2.  For  advances  to  agents $ . 

3.  For  advertising $ . 

4.  For  such  part  of  the  expenses  of  medical  examinations 

and  inspection  of  risks  not  actually  paid  from  sav- 
ings on  mortality   $ . 

5.  The  due  proportion  well  and   truly   ascertained   of  all 

other  epenses  properly  chargeable  to  first  year's 
business,  exclusive  of  expenses  for  medical  exam- 
inations and  inspections  of  risks  actually  paid 
from  gains  on  mortality,  and  of  investment  ex- 
penses, taxes,  fees  and  licenses,  actually  paid  from 
the  savings  on  interest  and  the  contingency  re- 
serve: 

For  agency  supervision $ 

For  home  office  $ . . . . 

For  other  items  $ 

Total    $. 

Total  first  year's  expenses $ . 


TOTAL  BUSINESS. 

(3)  Total  expense  charges  becoming  available   in  said   calendar 

year   * 

(d)  Expenses  for  medical  examinations  and  inspection  of 

risks    • ^ 

Amount  actually  paid  from  the  gains  on  mortjility,  to 

be  deducted  from  above  $ 

Balance  of  above  expenses $ 

Total    ; ^ 

Fees  and  licenses    | 

Taxes    $..•• 

Amount  actually  paid  from  savings  on  interest  $ 

Contingency  reserve    $ 

Total  to  be  deducted  from  above $ 

Balance  of  above  expenses  j 

All  other  expenses  ^ 

Total   expenses    ^ 

Section  1950n  is  referred  to  in  section  1950o. 

The  form  for  total  expenses  issued  by  the  commissioner  under  this 
section  is  as  follows: 


1950O  LIFE  COMPANIES.  116 


Total  Business. 

(c)  Total  expense  charges  becoming  available  in  said  cal- 

endar year  $ , 

(d)  Total  expenses  for  said  year: 

6.  Medical  examination  and  inspection  of 

risks    $ 

7.  Deduct    amount    of    same    paid    from 

gains  on  mortality $ 

8.  Balance,  deducting  (7)  from  (6)    $ . 

9.  Fees  and  licenses   $ 

10.  Taxes   $ 

11.  Investment  expenses    ....   $ 

12.  Total  of  9,  10,  and  11  $ 

13.  Amt.    actually    paid    from 

savings  on  interest  ...   $ 

14.  Amount  paid  from  contin- 

gency  reserve    $ 

15.  Total  (13)  and  (14) $ 

16.  Balance,   deducting    (15)   from    (12)    $. 

17.  All  other  expenses $. 

18.  Total  expenses,  add  (8),  (16)  and  (17) $. 

19.  Excess  or  deficiency  of  (c)  over  (18)   $. 


1950O  (Ch.  657,  1907.) 

Limitation  of  first  year  expense. 

Section  1950o.  No  company  mentioned  in  section  1950n, 
shall  incur  or  expend  or  permit  any  person,  firm  or  corporation 
to  incur  or  expend  on  its  behalf,  or  under  any  agreement  with 
it,  during  any  calendar  year,  for  the  purposes  specified  in  sub- 
division b,  in  sect'on  1950n,  an  amount  exceeding  in  the  aggre- 
gate the  total  expense  charges  specified  in  subdivision  a,  in 
section  1950n. 

Section  1950o  is  referred  to  in  section  1950t. 

1950p  (Ch.  657,  1907.) 

Limitation  of  aggrejate  expense. 

Section  1950p.  No  company  mentioned  in  section  1950n 
shall  in  any  calendar  year  make  or  incur  any  expense,  or  per- 
mit any  expenses  to  be  made  or  incurred  on  its  behalf  or  under 
any  agreement  with  it,  for  all  purposes  (exclusive  of  such  ex- 
penses for  medical  examinations  and  inspections  of  risks  as  are 
actually  paid  from  the  gains  on  mortality  and  of  such  invest- 
ment expenses,  taxes,  fees  and  licenses  as  are  actually  paid  from 
the  savings  on  interest  and  the  contingency  reserve),  in  an 
amount  exceeding  in  the  aggregate  the  total  expense  charges 
specified  in  subdivis'on  c  in  section  1950n. 

Section  1950p  is  referred  to  in  section  1950t. 


117  LIFE  COMPANIES.  1950q 

1950q  (Ch.  120,  1909,  in  effect  May  13,  1909.) 

Agents;  commissions  and  advances;  limitation. 

Section  1950q.  No  company  mentioned  in  section  1950n 
shall  in  any  calendar  year,  on  account  of  any  policy,  make  or 
incur  any  expense  or  permit  any  expense  to  be  made  or  incurred 
on  its  behalf  or  under  any  agreement  with  it  *  *  *  for 
commissions  and  advances  to  agents,  greater  than  the  expense 
charge  becoming  available  on  such  policy  in  such  calendar  year. 

Section  1950q  is  referred  to  in  section  1950t. 

1950r  (Ch.  657,  1907.) 

Compensation  of  agents  to  be  agreed  on  in  advance. 

Section  1950r.  No  such  company,  nor  any  person,  firm  or 
corporation  en  its  behalf,  or  under  any  agreement  with  it,  shall 
pay  or  allow  any  agent,  broker  or  other  person,  firm  or  corpor- 
ation, for  procuring  an  application  for  life  insurance,  for  collect- 
ing any  premium  thereon  or  for  any  other  service  performed 
in  connection  thereT^^th,  any  compensation  other  than  that 
which  has  been  determined  in  advance. 

Section  1950r  is  referred  to  in  section  1950t. 

1950s  (Ch.  657,  1907.) 

Bonuses  and  prizes  prohibited. 

Section  1950s.  All  bonuses,  prizes  and  rewards  and  all  in- 
creased or  add'tional  commissions  or  compensations  of  any  sort, 
based  uDon  the  volume  of  any  new  or  renewed  business,  or 
upon  the  aggregate  of  policies  written  or  paid  for,  or  upon  any 
other  contingency,  are  prohibited. 

Section  1950s  is  referred  to  in  section  1950t. 

1950t  (Ch.  657,  1907.) 

Stock   companies  issuing  non-participating  bus.iness  ex- 
cepted; industrial  policies  excepted. 
Section   1950t.     Sections   1950o,   ]950p,   1950q,    1950r,   and 
1950s,  shall  not  apply  to  stock  corporations,  issuing  and  repre- 
senting  themselves    as   issuing   non-participating   policies    ex- 
eluively,  nor  to  industrial  policies. 

1951   (1898;  ch.  22,  1901;  ch   6,  1903;  ch.  263,  1905.) 

Investments  by  domestic  life  companies;  business  prohib- 
ited. 

Section  1951.  Every  such  corporation  organized  under  the 
laws  of  this  state,  may  invest  its  funds  and  accumulations  in 
stocks  or  bonds  of  the  United  States  or  of  this  state,  or  of  any 


1952  LIFE  COMPANIES.  118 

county,  city,  town  or  village,  or  duly  organized  school  dis- 
trict therein,  or  in  mortgages  being  first  liens  on  real  estate 
whether  held  in  fee,  or  as  leasehold  running  not  less  than  twenty- 
five  years,  or  in  fee  subject  to  leasehold,  worth  at  least  twice 
the  money  loaned  thereon,  or  in  the  mortgage  bonds  of  any  rail- 
way or  street  railway  company  duly  incorporated  and  organ- 
ized under  the  authority  of  this  state ;  and  it  may  also  make 
loans  on  the  security  of  promissory  notes  amply  secured  by 
pledge  of  any  of  the  bonds  in  which  such  insurance  corpora- 
tions are  hereby  authorized  to  invest  their  funds,  and  everj' 
such  corporation  may  not  only  loan  to  its  policy  holders,  sums 
not  exceeding  one-half  of  the  annual  premiums  on  their  poli- 
cies, upon  note  to  be  secured  by  the  policies  of  the  persons  to 
whom  the  loans  may  be  made,  but  may  also  make  loans  upon 
the  security  of  its  own  pol'cies  to  an  amount  not  exceeding 
ninety-five  per  cent  of  the  cash  surrender  value  of  each  such 
policy  at  the  time  of  making  any  loan;  and  such  corporation 
may  invest  its  funds  in  other  states,  organized  territories  of 
the  United  States,  and  the  D 'strict  of  Columbia,  on  like  se- 
curities and  under  the  same  restrictions  as  in  this  state.  No 
life  insurance  corporation  organized  under  the  laws  of  this 
state  shall  issue  polic'es  insuring  fire,  marine,  accident  or  live 
stock  risks,  or  do  any  banking  business,  except  as  otherwise 
provided  by  law. 

Section  1951  is  referred  to  in  1987  (3). 

1952  (1898;  ch.  448,  1905.) 

Surplus  in  mutual  life  companies;  deferred  dividend  pro- 
hibited. 

Section  1952.  Every  life  insurance  corporation  doing  busi- 
ness in  this  state  upon  the  principle  of  mutual  insurance,  or  the 
members  of  which  are  entitled  to  share  in  the  surplus  funds 
thereof  may  make  distribution  of  such  surplus  as  they  may 
have  accumulated  annually,  or  once  in  two,  three,  four  or  five 
years  as  the  directors  thereof  may  from  tim.e  to  time  deter- 
mine. In  determining  the  amount  of  the  surplus  to  be  distrib- 
uted there  shall  be  reserved  an  amount  not  less  than  the  aggre- 
gate net  value  of  all  the  outstanding  policies,  said  value  to  be 
computed  by  the  American  Experience  Table  of  Mortality 
with  interest  not  exceeding  four  and  one-half  per  cent.  Nothing 
in  th^s  section  shall  be  construed  to  hereafter  permit  any  such 
corporation  to  defer  the  distribution,  apportionment  or  account- 
ing of  surplus  to  policy  holders  for  a  longer  period  than  five 
years,  and  on  all  policies,-  hereafter  outstanding,  under  the  con- 


119  LIFE  COMPANIES.  1952a 

ditions  of  wh'ch  the  actual  distribution  is  provided  for  at  a 
definite  or  fixed  period,  the  apportioned  surplus  shall  be  car- 
ried as  a  liability  to  the  class  of  policies  on  which  the  same  was 
accumulated. 

1952a  (Ch.  636,  1907.) 

Dividends ;  annual  apportionment  of  surplus  to  deduction. 

Section  1952a,  Every  life  insurance  company  hav'ng  in 
force  any  policy  of  insurance  issued  or  delivered  in  this  state 
upon  the  mutual  or  participatino:  plan,  shall  annually,  as  of  the 
thirty-first  day  of  December,  ascertain  and  determine  the  excess 
of  its  assets  over  all  reserve  liabilities  and  all  other  liabilities 
constituting  its  profits,  savings,  earnings  or  surplus,  and  also 
the  amount  of  unapportioned  surplus  which  it  will  retain  there- 
from as  a  contingency  reserve.  After  setting  aside  such  unap- 
portioned surplus,  such  sums  as  may  be  requ'red  for  the  pay- 
ment of  authorized  dividends  upcn  the  capital  stock,  if  any,  and 
such  sums  as  may  properly  be  held  for  account  of  existing  de- 
ferred d'vidend  policies,  the  remaining  surplus  shall  be  appor- 
t'oned  equitably  to  all  other  policies  entitled  to  share  therein. 

1952b  (Ch.  636,  1907.) 

Annual  ascertainment  and  credit  of  dividend  required; 
exceptions. 

Section  1952b.  On  all  participating  policies  of  life  insur- 
ance heretofore  or  hereafter  issued  in  this  state,  excepting 
policies  of  industrial  insurance  or  of  paid-up  or  temporary 
and  pure  endowment  or  other  stipulated  form  of  insurance 
issued  or  granted  in  exchange  for  lapsed  or  surrendered  poli- 
cies and  policies  under  the  conditions  of  which  the  distribution 
«if  profits,  savings,  earnings  or  surplus  is  deferred  for  more 
than  one  year  from  the  date  of  the  policy,  and  contingent  upon 
the  policy  being  in  force  and  the  insured  living  at  the  com- 
pletion of  the  period  for  which  such  distribution  is  deferred, 
the  company  shall  annually  ascertain  and  credit  the  share  of 
each  such  policy  in  the  profits,  savings,  earnings  or  surplus. 

Section  1952b  is  referred  to  in  1952d. 

1952c  (Ch.  636,  1907.) 

Dividends ;  liability  to  policy. 
Section  1952c.  1.  The  amount  of  profits,  savings,  earnings  or 
surplus  so  ascertained  to  be  due  to  each  such  policy,  together 
with  the  interest  earnings  and  accretions  thereto,  shall  be  car- 
ried as  a  distinct  and  separate  liability  to  such  policy  and  shall, 
except  as  otherwise  provided  in  contracts  heretofore  issued,  be 
paid  or  applied  or  be  subject  to  be  withdrawn  in  each  policy 
year,  or  be  paid  upon  the  maturity  or  termination  of  the  policy. 


1952d  LIFE  COMPANIES.  120 

Dividend  share  for  fractional  year. 

2.  Policies  which  have  become  payable  before  the  time  when 
the  next  distribution  would  have  been  made,  and  after  the  date 
of  the  last  previous  distributicn,  shall  share  in  the  same  equi- 
tably and  proportionally. 

Annual  statement  to  commissioner  of  surplus  and  appor- 
tionment. 

3.  The  company  shall  annually,  on  or  before  the  first  day  of 
March,  after  the  year  1907,  file  with  the  commissioner  of  in- 
surance in  such  form  as  he  may  require,  a  statement  verified  by 
the  secretary  and  actuary,  showing  the  amounts  respectively  of 
the  unapportioned  surplus,  unpaid  dividends,  deferred  dividend 
surplus  mentioned  in  section  1952a  and  other  surplus:  and 
showing  fully  and  in  detail  the  method  of  ascertainment  and 
apportionment  of  profits,  savings,  earnings  or  surplus  on  the 
policies  within  the  provisions  of  section  1952b;  the  interest, 
mortalities  and  expense  factors  used  :n  making  such  ascertain- 
ment and  apportionment,  and  the  rate  of  mterest  at  which  div- 
idends left  to  accumulate  have  been  improved. 

1952d  (Ch.  120,  1909,  in  effect  May  13.  1909.) 
Dividends;  statement  to  insured;  form. 

Section  1952d.  Not  less  than  thirty  nor  more  than  sixty 
days  prior  to  the  date  of  distribution  of  the  dividend  on  any 
policy  in  any  year  after  the  year  1907,  every  company  having 
in  force  in  this  state  any  policy  within  the  provisions  of  section 
1952b  shall  mail  to  the  insured  named  in  each  policy,  at  his  last 
known  postoffice  address,  a  statement  of  the  apportionment  of 
surplus  to  such  insured  according  to  the  last  dividend  ascer- 
tainment, wh^ch  statement  shall  be  in  the  following  form : 

Annual  Statement  of  Dividend  Apportionment  for  19. .. 

On  Policy  No Name 

Mortality  table  

Interest  basis per  cent. 

Gain  from  interest  computed  at ^er  cent $ 

Gain  from  mortality  charge  computed  at per  cent.  . .   $ 

Gain  from  expense  charge    $ 

Gain  from  all  other  sources   $ 

Total  dividend  credit  for  year  $ 

Dividend  credit  preceding  year   $ 

Interest  credit  at per  cent $ 

Total   dividend   credit 19 $ 

Interest  earned  by  company,  gross per  cent,  net per  cent. 

Mortality  gain  actually  experienced per  cent. 

Hi*********** 

, Secretary. 


121  LIFE  COMPANIES.  l»52g 

1952f  (Ch.  658,  1907.) 

Deferred  dividends;  ascertainment  annually  to  class;  for 
individual  on  request. 

Section  1952f.  On  all  policies  of  life  insurance  heretofore 
or  hereafter  issued  by  any  company  doing  business  in  this  state 
under  the  conditions  of  which  the  distribution  of  profits,  sav- 
ings, earnings  or  surplus  is  deferred  for  more  than  one  year 
irom  the  date  of  the  policy,  and  contingent  upon  the  policy 
being  in  force  and  the  insured  living  at  the  completion  of  the 
period  for  which  such  distribution  is  deferred,  the  company 
shall,  as  of  the  thirty-hrst  day  of  December  in  each  year,  after 
the  year  1907 : 

(a)  Ascertain  and  set  apart  as  to  such  policies  as  a  class 
the  amounts  of  profits,  savings,  earnings,  or  surpto  then  ac- 
cumulated to  provide  for  the  apportionment  and  distribution 
agreed  upon  in  such  policy  contracts. 

(b)  Ascertain  upon  the  written  request  of  the  insured  the 
i-ontngent  share  of  every  individual  policy  in  such  class,  in 
the  profits,  savings,  earnings  or  surplus  so  ascertained  and 
set  apart. 

Section  1952f  is  referred  to  in  1952i. 

1952g  (Ch.  658,  1907.) 

Deferred  dividend;  diversion  prohibited. 

Section  1952g.  No  part  of  the  amount  of  profits,  savings, 
earnings  or  surplus  so  ascertained  r^nd  set  apart  to  such  class 
of  policies  under  subdivision  (a)  of  section  1952f,  nor  of  the  in- 
terest earnings  or  accret  ons  thereto,  shall  be  diverted  for  di- 
vidends, expenses  or  surplus  on  account  of  any  other  class  or 
classes  of  policies. 

1952h  (Ch.  658,  1907.) 

Deferred  dividend  ascertainment;  report  to  commissioner. 

Section  1952h.  The  company  shall,  en  or  before  the  first 
day  of  March,  in  each  year  after  the  year  1908,  file  with  the 
commissioner  of  insurance,  a  statement  verified  by  the  secre- 
tary and  actuary  showing  fully  and  in  detail  the  method  of  as- 
certainment of  such  profits,  sav'ngs,  earnings  or  surplus,  the 
amount  accumulated  at  the  end  of  the  preceding  year,  the 
additions  thereto  during  the  year,  and  the  sources  from  which 
derived ;  the  deductions,  if  any,  made,  during  the  year,  and  the 
purposes  thereof,  and  the  amount  accumulated  at  the  end  of 
the  year;  and  a  statement  showing  the  number  of  such  policies 
and  the  amount  of  insurance  m  force  at  the  beginning  of  the 


10521  LIFE  COMPANIES.  122 

year,  the  number  and  amount  respectively  issued,  revived  and 
terminated  during  the  year,  specifying  the  different  modes  of 
termination;  and  the  number  and  amoimt  of  such  policies  in 
force  at  the  end  of  the  year. 

19521  (Ch.  658,  1907.) 

Deferred  dividend;  statement  to  policy  holder  on  request; 
form. 

Section  1952i.  Every  company  having  in  force  in  this  state 
any  policy  mentioned  in  section  1952f  shall  on  written  request 
from  the  insured  under  any  such  policy  residing  in  this  state 
forward  by  mail  to  such  insured  at  his  last  known  postoffice 
address,  within  thirty  days,  after  receiving  such  request,  and 
if  the  request  shall  so  specify,  in  every  calendar  year  thereafter 
while  the  policy  is  in  force  prior  to  and  including  the  year 
of  the  final  distribution  agreed  upon,  a  statement  of  the  cont'n- 
gent  share  of  such  policy  mentioned  in  subdivision  (b)  of  sec- 
tion 1952f  according  to  the  last  contingent  share  ascertainment 
prior  to  the  mailing  of  such  statement,  which  statement  shall 
give  the  following  items : 

Annual  Statement  of  Contingent  Shabe  of  Surplus  for  the  Year 
Ending ,19 

Number  of  policy 

Contingent  share  at  beginning  of  year $ 

Interest  at per  centum  for  year  on  above  contingent  share  $. . . . 

Other  additions  for  year  to  above  contingent  share $ 

Total  contingent  share  at  end  of  year $ 

Net  rate  of  interest  earned  by  company  for  year. . .  .per  centum 

Date  of  distribution ,  19 ... . 

This  ascertainment  and  statement  shall  not  be  construed  as  any 
alteration  or  waiver  of  any  of  the  terms  and  conditions  of  the  policy. 

.,  Secretary. 

1953 

Foreign  life  company;  deposit  of  papers;  appointment  of 
attorney. 

Section  1953.  Every  life  insurance  corporation  not  organ- 
ized under  the  laws  of  this  state  shall,  before  doing  business 
herein,  deposit  with  the  comm'ssioner  of  insurance  a  copy  of 
its  charter  and  a  statement  signed  and  verified  by  the  affidavit 
of  the  president  or  vice-president  and  of  the  secretary  in  the 
form  hereinafter  prescribed  for  its  annual  statement;  and  also  ; 
a  written  instrument  duly  signed  by  the  president  and  secre- 
tary thereof,  with  the  corporate  seal  affixed,  and  therein  ap- 
point an  attorney  to  reside  in  this  state,  specifyng  his  place  of 
residence,  upon  whom  and  where  any  summons,  notice  or  proc- 


123  UPB  COMPANIES.  Id53b 

ess  of  any  court  of  this  state  may  be  served,  and  stipulate 
that  service  of  any  such  summons,  notice  or  process  upon  any 
such  attorney  in  any  action  brought  upon  any  cause  of  action 
arising  out  of  any  business  or  transaction  in  this  state  shall  be 
accepted  irrevocably  as  a  valid  service  upon  such  corporation, 
unless  another  attorney  shall  be  subsequently  appointed  with 
like  authority  in  his  stead  such  authority  shall  be  continued 
unrevoked  while  any  liability  remains  outstanding  against  the 
corporation  in  this  state,  and  such  an  appointment  shall  not 
be  revoked  until  another  be  made  and  a  like  letter  of  attorney 
deposited.  Every  such  serv-ce  shall  be  as  effectual  for  all  pur- 
poses as  if  made  on  a  corporation  organized  under  the  laws  of 
this  state. 

Section  1953  is  referred  to  in  section  2637  (9). 

1953b   (Ch.  127,  1907.) 

Application,  copy  of  furnished  on  request. 

Section  1953b.  Every  person  within  the  state  holding  a  pol- 
icy of  insurance  issued  by  any  life  insurance  company  do'ng 
business  in  this  state,  shall  be  furnished  by  such  company  with 
a  copy  of  the  application  upon  which  polcy  was  issued,  upon 
demand  made  for  such  copy  by  the  holder  of  such  policy  or  by 
any  person  upon  whose  life  such  policy  was  issued. 

If  such  company  wilfully  neglect  or  fail  for  thirty  days  from 
the  time  of  such  demand,  to  furnish  such  person  a  copy  of  such 
applicat'on.  it  shall  be  forever  barred  from  setting  up  by  way 
of  defense  to  any  suit  on  such  policy  of  insurance,  any  error, 
incorrectness,  fraud  or  misrepresentation  of  the  person  making 
the  same,  or  any  mistake  therein;  and  such  application  shall 
thereafter  be  taken  and  held,  so  far  as  the  same  may  affect  any 
claim  under  such  polcy,  or  any  gain  secured  thereby  to  be  in  all 
respects  true  and  correct. 

1953d  (Ch   342,  1907.) 

Polidcal  contributions,  statement  filed  with  commissioner. 

Section  1953d.  As  a  condition  precedent  to  the  issuance  of 
a  license  to  transact  life  insurance  business  in  th's  state,  every 
life  insurance  company  shall  file  with  the  commissioner  of  in- 
surance a  statement  verified  by  its  president  and  secretary,  set- 
ting forth  a  schedule  showing  in  detail,  the  moneys,  property 
and  other  consideration  paid  or  contributed,  directly  or  indi- 
rectly, or  used  or  offered  or  agreed  to  be  paid  in  aid  of  any 
political  party,  company  or  organization,  or  for  and  in  aid  of 
any  corporation,  joint  stock  or  other  organization  organized  or 


1953e  LIFE  COMPANIES.  124 

maintained  for  palitical  purposes  or  for  or  in  aid  of  any  can- 
didates for  political  office,  or  for  iiomination  for  such  office, 
or  for  the  reimbursement  or  indemnification  of  any  person  for 
property  so  used;  the  names  and  address  of  parties,  companies 
or  organizations  to  whom  paid,  the  time,  place  and  amount  so 
disbursed  or  paid,  and  that  such  disbursements  have  been  truly 
entered  upon  the  books  of  the  company,  together  with  such 
other  information  in  relation  thereto,  as  the  commissioner  of 
insurance  may  require. 

1953e  (Ch.  131,  1907.) 

Legislative  expenditures,  statement  required. 

Section  1953e.  As  a  condition  precedent  to  the  issuing  of 
a  license  to  transact  life  insurance  business  in  this  state, 
every  life  insurance  company  shall  file  with  the  commissioner 
of  insurance  a  statement  verified  by  its  president  and  secre- 
tary, setting  forth  a  schedule  showing  in  detail;  (a)  the  bills 
opposed  or  promoted  by  it  during  the  preceding  year;  (b) 
the  state  in  which  such  legislation  was  pending;  (e)  names 
and  addresses  of  parties  engaged  as  counsel  or  otherwise ;  (d) 
the  consideration  paid  each  of  them;  (e)  and  the  expenses  of 
advertising,  traveling,  etc.,  and  to  whom  paid;  (f)  and  that 
such  disbursements  and  expenses  have  been  truly  entered  upon 
the  books  of  the  company,  together  with  such  other  informa- 
tion in  relation  thereto,  as  the  commissioner  of  insurance  may 
require. 

1953n  (Ch.  584,  1907.) 

Gain  and  loss  exhibit  required,  classes  of  business  sepa- 
rated. 

Section  1953n.  Every  life  insurance  company  doing  busi- 
ness in  this  state,  or  having  in  force  any  policies  issued  or 
delivered  therein,  shall  annually  furnish  the  report  required 
by  section  1954  and  with  such  report  separately  for  its  partic- 
ipating and  non-participating  business  and  its  ordinary  and 
industrial  business  a  statement  exhibiting  the  gains  and  losses 
separately  for  the  first  year's  business  and  for  the  total  busi- 
ness of  the  company  upon  blanks  prepared  by  the  commissioner 
in  substantially  the  form  heretofore  required.  Where  a  sepa- 
rate account  of  any  items  required  on  such  statement  shall 
not  be  kept  as  to  the  participating  and  non-participating  or 
ordinary  and  industrial  business  of  any  company,  such  state- 
ment shall  state  what  porportion  of  such  items  is  apportioned 
to  each  kind  of  such  business.  Such  company  shall  also  furnish 
such  other  information  in  regard  to  said  matters  as  the  com- 
missioner of  insurance  may  require. 


125  LIFE  COMPANIES.  1954 

1954  (1898;  ch.  237,  1903;  ch..597,  1907.) 

Annual  report;  contents;  publication;  forfeiture. 
Section  1954.  Every  life  insurance  company  doing  business 
in  this  state  shall  on  or  before  the  first  day  of  March  in  each 
year,  file  in  the  office  of  the  commissioner  of  insurance  an  annual 
statement  giving  a  complete  and  accurate  exhibit  of  its  business 
and  financial  condition  signed  and  verified  by  the  affidavits  of 
the  president  and  secretary,  or  if  a  foreign  corporation  by  its 
resident  managing  officer  in  the  United  States,  and  covering  the 
year  ending  on  the  preceding  thirty-first  day  of  December,  and 
its  business  for  that  year,  and  exhibiting  the  following  facts 
and  items: 

(1)  The  name  of  the  company. 

(2)  Where  located. 

(3)  When  incorporated  and  for  what  period. 

(4)  Amount  of  capital  stock  or  guaranty  fund. 

(5)  All  the  real  property  held  by  the  corporation,  the  dates 
of  acquisition,  the  names  of  the  vendors,  the  actual  cost,  the 
value  at  which  it  is' carried  on  the  company's  books,  the  market 
value,  the  amounts  expended  during  the  year  for  repairs  and 
improvements,  the  gross  and  net  income  from  each  parcel,  and 
if  any  portion  thereof  be  occupied  by  the  company  the  rental 
value  thereof,  a  statement  of,  and  all  purchases  and  sales  made 
since  the  last  annual  statement,  with  particulars  as  to  dates, 
names  of  vendors  and  vendees,  and  the  consideration. 

(6)  The  amount  of  existing  loans  upon  the  security  of  real 
property  in  each  state  and  foreism  country. 

(7)  The  moneys  loaned  by  the  corporation  to  any  person 
other  than  loans  upon  the  security  of  real  property  above  men- 
tioned and  other  than  loans  upon  policies  the  actual  borrowers 
thereof,  the  maturity  and  rate  of  interest  of  such  loans,  the 
securities  held  therefor,  and  all  substitutions  of  securities  in 
connection  therewith,  and  the  same  particulars  with  reference 
to  any  loans  made  or  discharged  since  the  last  annual  statement. 

(S)  All  other  property  owned  by  the  company  or  in  which 
it  has  any  interest  (including  all  securities,  whether  or  not 
recosmized  bv  the  law  as  proper  investments),  the  dates  of 
acquisition,  from  whom  acquired,  the  actual  cost,  the  value  at 
which  the  property  is  carried  upon  the  books,  the  market  value, 
the  interest  or  dividends  received  thereon,  during  the  year; 
also  all  purchases  and  sales  of  property  other  than  real  estate 
made  since  the  last  annual  statement,  with  particulars  as  to 
dates,  names  of  purchasers  and  sellers,  and  the  consideration ; 
and  also  the  income  received  and  outlays  made  in  connection 
with  all  such  property. 


1954  LIFE  COMPANIES.  126 

(9)  Cash  in  office  and  in  bank. 

(10)  Premium  notes  and  loans  on  policies  in  force. 

(11)  Outstanding  and  deferred  premiums  on  policies  in  force. 

(12)  All  other  loans,  investments  and  property. 

(13)  All  outstanding  losses  and  policy  claims. 

(14)  All  other  liabilities  and  claims  against  the  company. 

(15)  Cash  received  for  premiums. 

(16)  Cash  received  for  interest  and  rents. 

(17)  Income  from  all  other  sources. 

(18)  Paid  for  losses  and  claims. 

(19)  Dividend  of  surplus  to  policyholders. 

(20)  Paid  for  expenses. 

(21)  All  other  expenditure. 

(22)  All  commissions  paid  to  any  persons  in  connection  with 
loans  or  purchase  or  sales  of  any  property  and  a  statement  of 
all  payments  for  legal  expenses,  giving  particulars  as  to  date, 
amounts  and  names  and  addresses  of  payees. 

(23)  All  moneys  expended  in  connection  with  any  matter 
pending  before  any  legislative  body  or  any  officer  or  depart- 
ment of  government,  giving  particulars  as  to  dates,  amounts, 
names  and  addresses  of  payees,  the  measure  or  proceeding  in 
connection  with  which  the  payment  was  made,  and  the  interest 
of  the  corporation  therein. 

(24)  The  names  of  the  officers  and  directors  of  the  company, 
the  proceedings  at  the  last  annual  election,  giving  the  names 
of  candidates  and  the  number  of  votes  cast  for  each  and  whether 
in  person,  by  proxy  or  by  mail. 

(25)  The  salary,  compensation  and  emoluments  received  by 
officers,  directors  or  employees  and  where  the  same  amounts  to 
more  than  three  thousand  dollars,  also  salary,  compensation  and 
emoluments  of  three  thousand  dollars  or  over  received  by  any 
person,  firm  or  corporation,  with  particulars  as  to  dates,  payees 
and  the  authority  by  which  the  payment  was  made;  also  all 
salaries  paid  to  any  representative  either  at  the  home  office,  or 
at  any  branch  office,  or  agency,  or  agency  supervision,  also  the 
commissions  received  by  each  general  agent  stated  separately 
as  to  first  year  and  renewal  commissions,  the  amount  paid  to 
sub-agents,  the  amount  paid  out  in  expenses  of  the  agency  and 
the  net  compensation  of  the  general  agent. 

(26)  The  largest  balances  carried  in  each  bank  or  trust  com- 
pany during  each  month  of  the  year. 

(27)  All  death  claims  resisted  or  compromised  during  the 
year,  with  particulars  as  to  sums  insured,  sums  paid  and  reasons 
assirrned  for  resisting  or  compromising  the  same  in  each  case. 

(28)  The  rates  of  annual  dividends  declared  during  the  year 


127  LIFE  COMPANIES.  1955 

precise  methods  and  factors  by  which  such  dividends  have  been 
declared. 

(29)  A  statement  of  any  and  all  reserve  or  surplus  funds 
held  by  the  company  and  for  what  purpose  they  are  claimed 
respectively  to  be  held. 

(30)  Number  and  amount  of  policy  loans  and  rates  of  inter- 
est charged  on  such  loans. 

(31)  Number  of  policies  and  amount  of  insurance  lapsed  on 
which  loans  had  been  granted,  giving  net  value  of  policies  and 
amount  of  loans. 

(32)  Am.ount  separately  paid  insurance  departments  for  ex- 
amination and  valuation  fees  and  all  other  payments  not  in- 
cluding statutory  fees,  licenses  and  taxes  payable  to  the  various 
states. 

(33)  Amount  of  statutory  fees,  licenses  and  taxes  paid  for 
privilege  of  transacting  business,  separately:  Company  licenses, 
agents'  licenses,  filing *and  department  fees,  advertising,  retali- 
atory taxes,  state  taxes  on  premiums  or  income,  local  license  or 
privilege  tax. 

(34)  Number  and  amount  of  Wisconsin  policy  loans. 

(35)  Number  and  amount  of  loans  on  Wisconsin  real  estate. 
For  any  failure  to  make  and  deposit  such  annual  statement 

or  for  wilfully  making  anv  false  statement  therein  every  such 
corporation  or  officer  so  failing  or  m.aking  such  false  statement 
shall  forfeit  five  hundred  dollars,  and  for  every  neglect  to  file 
such  annual  statement  an  additional  five  hundred  dollars  for 
QYery  m.onth  while  ?^uch  company  shaH  have  any  policy  in  force 
in  this  state  until  such  statement  be  filed. 

It  shall  be  the  duty  of  the  commissioner  of  insurance  to  pub- 
lish the  information  contained  in  such  annual  statement  in  the 
annual  report  of  the  insurance  department  for  the  information 
of  policyholders. 

Section  1954  is  referred  to  in  1953n. 

1955 

Revocation  of  license. 

Section  1955.  If  any  such  corporation  shall  violate  or  fail 
to  comply  with  any  provision  of  law  applicable  thereto  or  in 
case  its  capital  shall  be  impaired  and  shall  not  be  made  good 
within  such  time  as  the  commissioner  of  insurance  shall  re- 
quire, according  to  section  ♦1968,  it  shall  be  the  imperative  duty 
of  said  commissioner  to  revoke  any  and  every  authority,  license 
or  certificate  granted  to  such  corporation  or  any  agent  thereof 
to  transact  business  in  this  state,  and  no  such  corporation  or 


1955a  MUTUAL  BENEFIT  SOCIETIES.  128 

assent  thereof  phall  thereafter  transact  any  business  of  insur- 
ance in  this  state  till  asfain  duly  licensed,  and  shall  ^*ve  notice 
thereof  as  required  in  the  case  of  fire  insurance  corporations. 


MUTUAL  BENEFIT  SOCIETIES. 

1955a  (1898;  ch.  442,  1901;  ch.  511,  1907) 
Organization;  incorporators;  members. 

Section  1955a.  1.  No  fraternal  or  beneficiary  corporation, 
society,  orde^*  or  association  for  the  relief  of  members  or  ben- 
eficiaries or  making  life  or  casualty  insurance  or  indemnity 
upon  the  mutual  or  assessment  plan  shall  be  incorporated  until 
after  a  declaration  signed  by  each  of  the  incorporators,  who 
shall  be  residents  and  citizens  of  this  state,  not  less  than  nine 
in  number,  shall  have  been  made  in  writing  and  sworn  to  by 
them,  and  filed  in  the  office  of  the  commissioner  of  insurance, 
setting  forth  that  at  least  five  hundred  persons  have  made  appli- 
cation in  writing  for  membership  in  such  proposed  corporation, 
and  in  case  of  a  life  company  have  each  been  examined  and 
recommended  as  insurable  by  a  reputable  physician,  and  who 
shall  have  deposited  five  dollars  each,  one  thousand  dollars  of 
which  sum  shall  be  pledged  for  the  payment  of  death  losses. 
And  the  table- rates  of  assessment  or  liability  of  each  person  so 
pledged  for  membership  shall  be  such  that  one  assessment  will 
realize  at  least  one  thousand  dollars  for  a  single  death  loss,  over 
and  above  all  sums  required  for  expenses,  reserves,  emergencies 
or  other  purposes. 

Incorporation  or  admission    of  new    societies;    minimum 
rates;  mortality  tables;  disability  benefits. 

2.  No  Fraternal  beneficiary  order  or  society  not  licensed  to 
transact  business  within  this  state  at  the  time  of  the  passage  of 
this  act  shall  be  incorporated  within  this  state  or  be  licensed  or 
permitted  to  transact  business  within  this  state,  unless  its  laws 
require  the  regular  payment  and  collection  of  rates  of  assess- 
ments under  whatsoever  plan  of  business  it  has  adopted  not 
lower  than  those  deduced  from  the  national  fraternal  congress 
mortality  table  computed  upon  an  interest  assumption  of  four 
per  cent  which  said  mortality  table  is  as  follows: 


MUTUAL  BENEFIT  SOCIETIES. 


1955a 


NATIONAL   FRATERNAL  CONGRESS  MORTALITY  TABLE. 


Ag-e. 


Number 
livint?. 


Number 
dying. 


Proba- 
bility of 
dying. 


Age. 


Number 
living. 


Number     bilUyof 
dying.    !     dying. 


100,000 
99,500 
98,099 
98,497 
97,994 
97,489 
96.982 
96,472 
95,959 
95.442 
94,920 
94,393 
93,860 
93,390 
92,772 
92,?15 
91,648 
91,070 
90.479 
80,873 
89,251 
88,611 
87,951 
87,2f8 
86,560 
85,826 
85,065 
84,275 
83,453 
82,596 
81,702 
80,767 
79,786 
78,757 
77,674 
76,5.34 
75,332 
74,062 
72,720 
71,302 


500 
501 
502 
503 
505 
507 
510 
513 
517 
522 
527 
533 
540 
548 
557 
56? 
578 
591 
606 
622 
640 
660 


734 

761 

790 

822 

857 

894 

935 

981 

1,029 

1,083 

1,140 

1,202 

1,270 

1,342 

1,418 

1,501 


.0050000 
.0050352 

.oosoros 

.0051068 
.0051535 
.005?006 
.0052587 
.0053176 
.0053877 
.0054693 
: 0055520 
.0056466 
.0057532 
.0058723 
.0060040 
.0061487 

.0064895 
.0006977 
.0069209 
.0ffn708 
.0074483 
.0077657 
.0081 1?9 
.0084797 


.0092870 


.0114440 
.01?!  460 
.0128970 
.0137512 
.0146^67 
.0157054 
.0168587 
.0181200 
.0194991 
.0210513 


a. 

62, 

«S. 
64 
65 
66, 
67 
68 
69 
70 
71 
72 
73 
74 
75 
76 
77 
78 
79 
90 
81 
82 
83 
84 
85 
86 
87 
88 
89 
90 
91 
92 
93 
94 
95 
96 
97 
96 


«9.8r)l 

68,213 

66.532 

64,754 

62.874 

60.889 

58,795 

56.539 

54.2n 

51.841 

49  ..^02 

46.6^ 

43.913 

41,081 

88.172 

35,203 

32.194 

29,168 

26,1-2 

2S.175 

20,270 

17,471 

14.812 

12,.?27 

10,047 

7,997 

6,197 

4,658 

3.381 

2,358 

1.570 

991 

587 

82S 

162 

78 

29 

10 

8 


1.BB3 

1.081 

1.T78 

1,890 

1,985 

2,094 

2.206 

2,318 

2.4.'!0 

2.539 

2,645 

2.744 

2.882 

2.909 

2.909 

3.009 

8.028 

8.015 

2.977 

2.905 

2.799 

2,659 

2.4S5 

2.290 

2,0% 

1.800 

1,539 

1.277 

1.023 

788 

579 

404 

264 

161 

89 

44 

19 

7 

8 


.0227504 
.0246484 

.02072iO 
.0290880 
.0315711 
.034^904 


.0t09f;20 
.0447758 
.0189767 
.05-64S9 
.05S8122 
.0644  t'f 
.0702^8 
.0777795 
.0854777 
.093^77 
.1034010 
.113>W45 

.i2S.r)00 

.1S»!858 
•.1^21951 
.1577«94 
.1849=109 
.2040410 
.2250844 
.24334t) 
.2741-20 

.  .302-732 
.8^41<n5 
.86S7808 
.407''.890 
.4497445 
.4084520 
.5498S27 
.602-807 
.6551724 
.7000000 

1.0000000 


The  payment  of  any  disability  benefits  promised  or  rendered 
by  any  such  society  or  order  hereafter  organized  or  admitted 
to  this  state  that  are  not  provided  for  in  the  rates  deduced 
from  said  table  of  mortality  as  is  herein  required  must  be 
amply  provided  for  in  addition  to  the  rates  of  assessments  as 
herein  required. 


Deposit  by  accident  associations. 

3.  In  case  of  an  accident  association  before  license  is  is- 
sued, it  shall  deposit  with  the  state  treasurer  a  security  for 
the  payment  of  claims  against  said  corporation  in  case  of 
voluntary  dissolution  or  the  winding  up  of  its  affairs,  good, 
interest  bearing  securities  to  be  approved  by  the  commissioner 
•  <f  insurance  in  the  amount  in  par  value,  exclusive  of  interest, 
of  not  less  than  one  thousand  dollars;  such  securities  shall 

9-1.  L. 


1955a  MUTUAL  BENEFIT  SOCIETIES.  130 

be  retained  by  the  state  treasurer  so  long  as  said  corporation 
shall  continue  to  do  business  Provided  that  said  corporation 
may  at  any  time  upon  the  approval  of  the  commissioner  of  in- 
surance, substitute  other  securities  of  equal  value;  the  in- 
terest on  said  securities  shall  be  payable  to  the  said  corpora- 
tion, and  in  case  of  the  dissolution  of  said  corporation  or  the 
winding  up  of  its  affairs,  the  said  securities  shall  be  delivered 
to  the  duly  appointed  receiver  of  the  said  corporation  or  to 
the  corporation  itself,  upon  the  certificate  of  the  commissioner 
of  insurance. 

Deposit  in  another  state. 

4.  In  case  of  associations  already  organized  and  doing  busi- 
ness under  the  provisions  of  this  act,  the  securities  herein 
above  provided  for,  shall  be  deposited  with  the  state  treasurer 
in  the  same  manner,  for  the  same  purpose  and  to  the  same 
effect  as  above  provided,  on  or  before  the  first  dav  of  January, 
1902.  Provided,  however,  that  when  by  the  statutes  of  any 
other  state,  mutual  benefit  associations  doing  an  accident  or 
health  business  organized  or  doing  business  therein,  are  re- 
quired to  keep  on  denosit  with  the  sta"'-e  treasurer  or  other 
state  officer,  securities  for  the  protection  of  policyholders  gen- 
erally and  any  such  company  shall  furnish  to  the  commis- 
sioner of  insurance  of  this  state,  the  certificate  of  the  proper 
officer  of  sn^h  other  state,  showino-  the  amount  and  character 
of  the  secnrih'es  so  de-nosited  with  him  and  it  shall  anpear 
therefrom  that  the  said  securities  are  enual  in  market  value 
and  availabilitv  to  one  thousand  dollars,  and  that  said  securi- 
ties consist  of  stock  or  bonds  of  the  United  States  or  of  this 
state  or  of  any  city  or  county  in  this  state  authorized  by  act 
of  lesrislature  to  issue  the  same  or  of  state,  county  or  city 
bonds  or  of  s+ocks  of  the  state  where  such  company  or  associ- 
ation is  organized  or  of  bonds  and  mortorages  on  improved 
real  estate,  worth  double  the  sum  loaned  thereon,  and  it  shall 
further  appear  from  the  laws  of  such  o+her  state  that  the  se- 
curities so  deposited  are  subiect  to  be  made  available  to 
satisfy  judgments  of  policy-holders  in  any  manner  correspond- 
ing to  that  provided  for  the  care  of  securities  deposited  un- 
der this  act,  the  commissioner  of  insurance  shall  thereupon  ; 
be  authorized  to  issue  to  such  company  an  authority  or  license 
to  transact  the  business  of  accident  and  health  insurance  - 
within  this  state,  without  any  such  deposit  of  securities  with  : 
the  state  treasurer  of  this  state  as  is  above  provided. 

Section  1955a  Is  referred  to  in  section  1955n. 


131  MUTUAL  BENEFIT  SOCIETIES.  1955a— 1 

1955a^l  (Ch.  56,  1903.) 

Single  risk  not  to  exceed  one  tenth  of  assets. 

Section  1955a — ].  No  casualty  or  accident  insurance  com- 
pany, association,  society,  order  or  corporation  organized  under 
section  1955a  of  the  Wisconsin  statutes  of  1898,  as  amended  by 
chapter  442  of  the  laws  of  1901 ;  and  no  such  company,  associa- 
tion, society,  order  or  corporation,  now  or  at  any  t'me  hereafter 
transacting  business  within  this  state,  shall  assume  a  greater 
liability  in  its  contracts  of  insurance  to  any  one  person,  payable 
in  case  of  death  of  the  assured,  than  one-tenth  of  the  amount  of 
its  assets  reported  to  the  commissioner  of  insurance,  and  in  ac- 
tual existence  at  the  time  of  the  last  preced'ng  annual  report  to 
the  said  commissioner  of  insurance. 

1955b 

Articles;  when  filed,  where;  conditions;  members;  certifi- 
cate 0^  commissioner. 

Section  1955b.  No  such  articles  shall  be  filed  with  the  sec- 
retary of  state  or  recorded  by  any  register  of  deeds  until  a 
copy  thereof  and  of  the  by-laws,  blank  application  for  and 
certificate  of  membersh'p,  plan  of  doing  business  and  of  the 
original  applications  for  and  agreements  to  take  membership 
have  been  deposited  with  the  commissioner  of  insurance  and 
satisfactory  evidence  is  produced  to  him  that  the  sum  due  from 
each  applicant  for  membership  has  been  collected  or  duly 
pledged,  and  that  a  single  assessment  levied  upon  each  such 
applicant  will  realize  one  thousand  dollars  net,  and  shall  have 
received  from  said  commissioner  a  cert'ficate  reciting  that  said 
corporation,  society,  order  or  association  has  complied  with 
the  provisions  of  law;  and  thereupon  may  file  such  articles 
with  the  secretary  of  state  and  such  society,  order  or  associa- 
tion become  incorporated  under  chapter  86  as  a  mutual  bene- 
ficiary association.  A  copy  of  such  certificate  of  incorpora- 
tion shall  be  filed  with  the  commissioner  of  insurance,  together 
with  a  copy  of  its  constitution  and  by-laws,  setting  forth  its 
plan  of  organization,  and  if  approved  by  him  he  shall  issue  a 
certificate  authorizing  said  corporation,  society,  order  or  associa- 
tion to  engage  in  the  business  of  insurance  on  the  assessment 
plan  as  set  forth  in  said  articles  or  constitution  and  by-laws,  and 
the  said  incorporators  and  those  who  may  become  associated 
with  them  or  their  successors  shall  be  entitled  to  transact  busi- 
ness in  accordance  with  the  provisions  of  law. 

t      Section  1955b  is  referred  to  In  section  1955n. 


1955b— 5  MUTUAL  BENEFIT  SOCIETIES.  132 

1955b— 5  (Ch.  158,  1909,  in  effect  May  19,  1909.) 

Mutual  benefit  societies;  articles,  amendment,  notice. 

Section  1955b — 5.  The  articles  of  organization  of  any  fra- 
ternal or  beneficiary  corporation,  society,  order,  or  association 
may  be  amended  as  prescribed  herein,  whether  organized  under 
this  chapter  or  chapter  86  of  the  statutes,  m  case  of  any  cor- 
poration having  subordinate  lodges  or  other  denominated  di- 
visions, after  the  proposed  amendment  has  been  filed  with  the 
department  or  departments  where  the  original  articles  are  filed 
and  a  copy  thereof  with  notice  of  the  manner  and  the  time  and 
place  of  voting  has  been  mailed  to  each  member  at  least  thirty 
days  prior  thereto,  the  vote  on  such  amendment  may  be  taken 
at  the  usual  meet'ng  place  of  such  lodges  or  other  denominated 
divisions  and  the  results  returned  and  canvassed  in  such  uni- 
form manner  as  the  board  of  directors  or  other  governing  of- 
ficers with  like  powers  may  prescribe  in  such  notice.  The  time 
and  place  of  vot'ng  may  be  specified  by  referring  generally  to 
a  stated  meeting  of  such  subordinate  lodge  or  other  denominated 
division  in  such  manner  as  to  fully  inform  the  members. 

1955c  (1898;  ch.  101,  1899.) 
Beneficiary. 

Section  1955c.  Any  member  of  such  society,  order  or  as- 
sociation may  name  as  his  beneficiary  any  person  or  persons 
designated  bj  the  laws  of  such  society,  order  or  association,  or 
if  the  laws  thereof  permit  his  insurance  may  be  made  payable 
to  his  estate.  Any  member  may  change  the  beneficiary  named 
in  his  certificate  or  policy  without  the  consent  of  such  bene- 
ficiary, by  complying  w'th  the  by-laws  of  the  society,  order  or 
association  which  issued  the  same. 

Section  1955c  is  referred  to  in  section  1955n. 

1955d 

Ages  at  which  insurance  granted;  emer^fency  fund;  ex- 
ceptions. 

Section  1955d.  No  corporation,  society,  order  or  associa- 
tion insuring  lives  on  the  assessment  plan  shall  be  organ'zed  or 
licensed  to  do  buj-iness  in  this  state  if  it  permit  persons  to  be- 
come members  who  are  under  eighteen  or  above  sixty-one  years 
of  age;  and  every  such  organ'zation,  except  casualty  associa- 
tions or  societies,  shall  accumulate  and  maintain  a  reserve  or 
emergency  fund  of  an  acount  not  less  than  the  proceeds  of  one 
death  or  disability  assessment  or  periodical  call  on  all  policy 
or  certificate  holders  thereof,  and  at  least  equal  to  fie  amount 


133  MUTUAL  BENEFIT  SOCIETIES.  1955e 

of  its  maximum  certificate  or  policy,  and  in  case  such  fund  or 
any  portion  thereof  shall  have  been  used  for  the  purpose  for 
which  it  was  created  and  the  amount  thereof  reduced  to  less 
than  the  proceeds  of  one  such  assessment  or  call  the  amount  of 
such  reduction  shall  be  made  up  and  restored  to  said  fund 
within  three  months  thereafter.  If  such  fund  is  in  excess  of 
double  the  proceeds  of  such  assessment  or  call  upon  the  entire 
membership  the  excess  or  any  portion  thereof  may  be  used  in 
reduction  of  assessments  or  calls;  provided,  that  the  provisions 
for  a  reserve  or  emergency  fund  shall  not  apply  to  any  such 
corporation  heretofore  licensed  or  organ 'zed  in  this  state  or  to 
any  fraternal  order  or  lodge  heretofore  authorized  to  do  busi- 
ness herein. 

1955d  is  referred  to  in  section  1955e,  1955n. 

1955e 

Foreign;  admission;  conditions. 

Section  1955e.  No  organizaticn  furnishing  life  or  casualty 
insurance  or  idemnity  upon  the  mutual  or  assessment  plan,  or- 
ganized under  the  lavvs  of  any  state  or  territory,  the  District  of 
Columbia  or  any  foregn  country,  nor  any  organization,  whether 
incorporated  or  not,  having  its  principal  place  of  business  out- 
side this  state,  shall  transact  business  "n  this  state  until  it  have 
filed  with  the  commissioner  of  'nsuranee  an  application  for  ad- 
mission upon  a  form  prescribed  by  him,  setting  forth  its  mem- 
bership, claims  paid  and  resources,  together  with  a  copy  of  its 
articles  of  incorporation,  of  its  ccnstitution  and  by-laws,  its 
application  for  membership,  its  medical  examination  blank,  if 
one  be  provided  for,  of  its  certificate  or  policy  and  of  the  liter- 
ature used  by  it  "n  soliciting  business,  a  certificate  from  the 
commissioner  of  insurance  Ox"  other  proper  officer  of  the  state 
in  which  said  organization  is  incorporated  or  organized  certify- 
ing that  it  is  authorized  to  transact  business  in  such  state;  that 
its  business  is  honestly  conducted,  and  that  for  a  period  of  two 
years  prior  to  the  date  of  such  application  it  has  paid  the  riace 
value  of  its  largest  certificate  or  policy  in  full  w"th  the  collec- 
tions of  an  ordinary  assessment,  that  its  by-laws  require,  and 
the  laws  of  the  state  where  incorporated  or  under  which  it  exists 
permit,  the  accumulation  of  a  reserve  or  emergency  fund  equal 
m  amount  to  that  prescribed  by  section  1955d;  provided,  '.hac 
the  membership  of  such  corporation  shall  not  have  diminished 
during  the  year  in  w^hich  such  application  is  made  or  during  the 
year  next  preceding;  provided,  further,  that  the  prov'sion  re- 
quiring a  reserve  or  emergency  fund  shall  not  apply  to  a  cor- 


1955f  MUTUAL  BENEFIT  SOCIETIES.  134 

poration  which  is  engaged  in  the  business  of  casualty  insurance 
and  only  pays  death  losses  caused  by  accident,  if  such  corpora- 
tion shall  have  accumulated  and  maintaued  a  fund  equal  and 
applicable  to  the  payment  of  the  face  of  its  largest  certificate  or 
policy  in  force.     See  section  1955a. 

Section  1955e  referred  to  in  section  1955n. 

1955f 

Investigation;  attorney  for  service  of  process;  retaliatory 
law;  name;  deceptive  literature. 

Section  1955f.  The  commissioner  shall  investigate  the  char- 
acter and  standing  of  all  such  organizat'ons  applying  for  li- 
cense, and  if  approved  by  him,  and  if  the  conditions  herein- 
before imposed  have  been  complied  with,  he  shall  notify  it  ot 
his  approval,  whereupon  such  organ'zation  shall  appoint  in 
writing  the  commissioner  of  insurance  or  his  successor  in  office  to 
be  its  true  and  law^ful  attorney,  upon  whom  any  summons,  notice 
of  process  in  any  action  or  proceeding  upon  any  cause  of  action 
or  business  or  transaction  in  this  state  may  be  served,  and  in 
such  writ'ng  shall  agree  that  any  such  summons,  notice  of  proc- 
ess against  it  which  is  served  on  said  attorney  shall  be  of  the 
same  force  and  validity  as  if  such  service  were  made  on  a  cor- 
poration of  this  state;  and  such  authority  shall  continue  in 
force  so  long  as  there  is  any  liablity  against  it  in  this  state; 
provided,  that  no  license  to  do  business  in  this  state  shall  be  is- 
sued to  any  such  organization  to  w^hose  country,  state  or  ter- 
ritory any  Wisconsin  corporat  on,  society,  order  or  association 
doing  business  on  the  assessment  plan,  which  has  complied  with 
the  requirements  of  the  laws  of  this  state,  has  been  or  would  be^ 
refused  admission  to  do  business  on  comprance  with  the  laws 
thereof.  The  commissioner  shall  a^so  refuse  license  to  do  busi- 
ness to  any  foreign  organization  whose  name  or  title  he  shall 
deem  too  sim'lar  to  one  already  a  .propriated  or  likely  to  mis- 
lead the  public.  These  conditions  having  been  complied  with, 
he  shall  issue  to  each  organizafon  a  license,  after  which  it  may 
transact  business  in  this  state;  and  said  license  shall  continue 
in  force  until  revoked  pursuant  to  law;  provided,  that  it  shall 
be  cause  for  refusing  such  license  or  for  revoking  it  if  the  litera- 
ture used  by  the  organization  in  soFciting  business  is  mislead- 
ing in  respect  to  the  business  done  or  in  conflict  with  the  law 
of  this  state.  All  such  licenses  shall  expire  on  the  first  day  of 
March  succeeding  the  date  of  the'r  issue. 

Section  1955f  referred  to  in  section  1955n. 


135  MUTUAL  BENEFIT  SOCIETIES.  1955g 

1955g 

Annual  report. 

Section  1955g.  Every  such  organization  authorized  to  (i.o 
business  in  this  state  shall,  on  or  before  the  first  day  of  March 
of  each  year,  make  and  file  with  the  commissioner  of  insurance 
a  report  of  its  affairs  and  its  operations  during  the  year  ending 
on  the  preceeding  thirty-first  day  of  December.  Such  report 
shall  be  upon  blank  forms  to  be  provided  by  such  commissioner, 
and  shall  be  verified  under  oath  by  the  proper.  ofiScers  thereof 
and  be  published,  or  the  substance  thereof,  in  the  report  of 
the  commissioner  under  a  separate  part  entitled  ''Mutual  bene- 
fit societies,  orders  or  associations,"  and  shall  show: 

1.  Number  of  certificates  issued  during  the  year  or  members 
admitted. 

2.  Amount  of  indemnity  effected  thereby. 

3.  Number  of  losses  or  benefit  liabilities. 

4.  Number  of  losses  or  benefit  liabilities  paid. 

5.  The  amount  received  from  each  assessment  in  each  class 
for  the  year. 

6.  Total  amount  paid  members,  beneficiaries,  legal  represen- 
tatives and  heirs. 

7.  Number  and  kind  of  claims  for  which  assessments  have 
been  made. 

8.  Number  and  kind  of  claims  compromised  or  resisted,  and 
brief  statements  of  reasons. 

9.  Does  society  charge  annual  or  other  periodical  dues  or 
admission  fees? 

10.  How  much  on  each  one  thousand  dollars  annually  or  per 
capita,  as  the  case  may  be? 

11.  Total  amount  received,  from  what  sources,  and  disposi- 
tion thereof. 

12.  Total  amount  of  salaries  paid  to  officers. 

13.  Does  society  guarantee  in  its  certificate  fixed  amount  to 
be  paid,  regardless  of  amount  realized  from  assessments,  dues, 
admission  fees  and  donations? 

14.  If  so,  state  amount  guaranteed  and  the  security  of  such 
guaranty. 

15.  Has  the  society  a  reserve  fund? 

16.  If  so,  how  it  is  created,  and  for  what  purpose,  the  amount 
thereof,  and  how  invested. 

17.  Has  the  society  more  than  one  class? 

18.  If  so,  how  many,  and  the  amount  of  indemnity  in  each. 

19.  Number  of  members  in  each  class. 

20.  If  organized  under  the  laws  of  this  state,  imder  what 
law,  and  at  what  time. 


1955h  MUTUAL  BENEFIT  SOCIETIES.  136 

21.  If  organi^zed  under  the  laws  of  any  other  state  or  terri- 
tory, the  District  of  Columbia  or  any  foreign  country,  state 
such  fact  and  the  date  of  organization,  giving  chapter  and  year 
and  date  of  passage  of  the  act. 

2'2.  Number  of  certificates  of  membership  in  force  at  begin- 
ning and  end  of  year;  if  more  than  one  class,  number  of  each. 

23.  Number  of  certificates  of  membersh'p  lapsed  during  the 
year. 

24.  Number  of  certificates  of  membership  in  force  in  this 
state  at  the  beginning  and  end  of  year ;  if  more  than  one  class, 
number  of  each. 

25.  Number  of  certificates  of  membership  in  this  state  lapsed 
during  the  year. 

26.  Number  of  de^hs  in  this  state  during  the  year. 

27.  Number  and  amount  of  claims  paid  in  this  state  during 
the  year;  if  more  than  one  class,  number  and  amount  paid  in 
each. 

28.  Have  all  claims  been  paid  'u  full?     If  not,  why  not? 

29.  Approximate  maximum  and  average  age  of  membership 
in  each  class. 

30.  Liabilities,  assets,  contingent  liabilties,  contingent  assets. 

*'31.  A  schedule  giving  the  number  of  members  in  groups  ac- 
cording to  attained  ages,  the  amount  of  insurance  in  force,  the 
amount  received  in  premiums  or  mortuary  assessments  during 
the  year,  the  number  of  deaths  and  the  amount  of  death  losses 
incurred  during  the  year  in  each  group  at  attained  age." 

Section  1955g  is  referred  to  in  section  1955n. 

1955h 

Examination  by  commissioner;  revocation  of  license;  re- 
instatement. 

Section  1955h.  The  commissioner  may  address  any  add"- 
tional  inquiries  to  any  such  organization,  and  it  shall  be  the 
duty  of  the  proper  officers  thereof  to  reply  in  writing,  under 
oath,  to  all  such  inqu-ries.  All  such  organizations  and  their 
books  and  papers  shall  be  subject  to  visitation  and  inspection 
by  the  commissioner  or  such  persons  as  he  may  designate.  Any 
such  organization  refusing  or  neglecting  to  make  such  report 
or  answer  such  inquiries  shall  be  excluded  from  doing  business 
in  this  state.  Said  commissioner  must,  within  thirty  days  after 
failure  to  make  such  report  or  answer  his  inquiries  or  in  case 
any  such  organization  shall  exceed  its  powers  or  conduct  its 
business  fraudulently  or  fail  to  comply  with  any  of  the  provi- 
sions of  law  applicable  thereto,  revoke  its  license,  and  no  organ- 


137  MUTUAL  BENEFIT  SOCIETIES.  19551 

ization  whose  license  is  so  revoked  shall  continue  business  until 
such  report  shall  be  made,  questions  answered,  or  overt  acts  or 
violations  complained  of  shall  have  been  corrected  and  the  costs 
of  such  proceeding  be  paid  by  t,  whereupon  the  commissioner 
shall  reinstate  the  organization  and  iiot  until  then  shall  it  again 
do  business  in  this  state. 

Section  1955h  is  referred  to  in  section  1955n. 

19551 

Examination  on  request;  expense. 

Section  1955i.  The  commissoner  of  insurance  shall,  at  the 
request  of  any  organization  doing  business  under  these  provi- 
sions, make  an  examination  thereof  and  furnish  a  certificate  of 
the  result,  showing  all  its  assets,  how  invested,  and  such  other 
particulars  as  may  be  deemed  necessary  to  show  the  character 
and  condition  of  the  organization ;  and  the  necessary  expense 
of  the  said  examination  shall  be  paid  by  it. 

Section  1955i  is  referred  to  in  section  1955n. 

1955J   (1898;  ch.  546,  1907.) 

Definitions;  ''assessments;"   "organization;"  when  laws 
apply. 

Section  1955 j.  The  word  ''assessment"  as  used  in  the  fore- 
going prov"sions,  when  applicable  to  any  corporation,  society, 
order  or  association,  shall  mean  that  the  usual  method  employed 
by  any  organization  within  such  provisions  to  meet  its  death 
losses  is  by  assessments  upon  its  surviv'ng  members,  or  that  the 
amount  estimated  or  required  to  meet  such  losses  shall  not  be 
limited  to  a  fixed  sum.  The  word  "organization,"  as  so  used, 
shall  mean  all  such  corporations,  societies,  orders  or  associat'ons 
as  are  within  the  foregoing  provisions;  but  no  law  of  this  state 
hereafter  passed  shall  be  held  to  apply  to  fraternal  benefit  or- 
ganizations unless  they  are  specifically  ment'oned  in  said  law. 

Section  1955j  is  referred  to  in  section  1955n. 

1955k 

Violation  of  law;  revocation  of  license;  expenses. 

Section  1955k.  The  commissicner  of  insurance  shall  revoke 
the  license  of  any  organization  which  fails  to  comply  with  the 
requirements  of  law ;  and  all  necessary  expenses  'ncurred  by  him 
and  by  the  attorney-general  in  enforcing  such  requirements  or 
in  prosecuting  violations  thereof  shall  be  paid  out  of  the  gen- 
eral fund,  en  being  certified  to  the  secretary  of  state  that  they 
were  actually  and  necessarily  incurred  for  the  purpose  stated. 

Section  1955k  is  referred  to  in  section  1955n. 


19551  MUTUAL  BENEFIT  SOCIETIES.  13& 

19551 

License  fee;  exception. 

Section  19551.  Every  foregn  organrzation  which  is  licensed 
to  do  business  imder  the  foregoing  provisions  shall  pay  an  an- 
nual license  fee  of  twenty-five  dollars;  but  societies  and  orders 
of  this  state  which  have  a  state  grand  ledge  or  council  therein 
shall  not  be  required  to  pay  such  fee. 

Section  1955  1  is  referred  to  in  section  1955n. 

1955m 

Guaranty  fund,  purposes  of;  deposit;  withdrawal.  . 

Section  1955ni.  Any  corporation,  society,  order  or  associa- 
tion transacting  business  under  the  foregoing  provisions  may 
provide  by  by-laws  for  the  accumulation  of  a  reserve  or  guar- 
anty fund,  which  may  be  invested  only  in  its  corporate  name 
in  United  States,  state,  county,  city  or  other  first  class  con-  ■ 
vertible  bonds  or  securities.  Such  funds,  when  so  set  apart  and 
invested,  shall,  with  the  increase  thereof,  belong  to  such  corpora- 
tion, society,  order  or  association  and  shall  be  used  only  to  guar- 
anty benefits  or  in  payment  of  future  assessments  or  otherwise 
for  the  promotion  of  the  obiects  for  which  said  funds  are  spe- 
cially provided  and  set  apart.  Such  fund  or  part  thereof,  may 
be  deposited  with  the  state  treasurer  for  the  purpose  of  secur- 
ing certificate  holders,  and  such  treasurer  shall  receive  and  hold 
in  trust  such  bonds,  stocks  or  other  securities  as  may  be  offered 
by  any  corporation,  society,  order  or  association  and  give  a  re- 
ceipt for  the  same.  Every  corporation,  society,  order  or  asso- 
ciation depositing  such  securities  may  receive  the  income  thereof 
and  exchange  the  same  from  time  to  time  and  withdraw  the 
same  when  it  no  longer  desires  to  maintain  such  deposit. 

Section  1955m  is  referred  to  in  section  1955n. 

1955n 

Reorganization  of  societies;  name;  officers. 

Section  1955n.  Any  corporation,  society,  order  or  associa- 
tion heretofore  incorporated  under  the  laws  of  this  state,  the 
obiects  of  which  are  similar  to  those  specified  in  section  1955a 
and  having  a  membership  of  not  less  than  five  hundred,  may 
re-incorporate  under  the  provisions  of  sections  1955a  to  1955m 
on  filing  Avith  the  commissioner  or  insurance  a  resolution  adopted 
by  the  unanimous  vote  of  the  directors  or  governing  body 
thereof  expressing  their  purpose  to  so  re-incorporate,  and  on 
also  filing  with  him  a  statement  showing  the  name  and  location 
of  the  corporation,  the  purpose  for  which  it  was  organized,  the 


139  DISCRIMINATION.  1955o 

names  and  residences  of  its  president,  secretary,  treasurer  and 
directors,  its  place  of  business  or  principal  office  and  name  and 
location  as  re- incorporated:  but  such  name  shall  not  contain 
the  names  of  individuals  as  the  names  of  individuals  are  used 
in  partnership  names,  nor  shall  it  be  so  similar  to  the  name  of 
any  existing  corporation  as  to  mislead  the  public ;  a  designa- 
tion of  the  general  officers  of  the  corporation,  their  terms  and 
the  method  of  their  election. 


DISCRIMINATION. 

1955a  (1898;  ch.  504,  1907.) 
Discrimination  prohibited. 

Section  1955o.  1.  No  life  insurance  company  doing  busi- 
ness in  this  state  shall  make  or  permit  any  distinction  or  dis- 
crimination in  favor  of  individuals  between  insurants  of  the 
same  class  and  equal  expectation  of  life  in  the  amount  or  pay- 
ment of  premiums  or  rates  charged  or  in  any  return  of  pre- 
mium, dividends  or  other  advantages. 

Contraofc  other  than  policy,  and  rebate  prohibited. 

2.  No  such  company  or  any  agent  thereof  shall  make  any  con- 
tract or  agreement  as  to  such  contract  other  than  as  plainly  ex- 
pressed in  the  policy  issued  pursuant  thereto,  nor  pay  or  allow 
or  offer  to  pay  or  allow  any  rebate  of  premium  payable  on  the 
policy,  or  any  special  favor  or  advantage  whatever  in  the 
dividends  or  other  benefits  to  accrue  thereon,  or  any  valuable 
consideration  or  inducement  whatever  not  specified  in  the 
policy. 

Advisory  board  and  contracts  for  services  or  stock  pro- 
hibited. 

3.  No  such  company  or  any  agent  thereof  shall  at  the  time 
of  soliciting  insurance  or  issuing  a  policy,  or  at  any  time  in 
ponsideration  of  or  in  connection  with  a  policy  issued  or  pro- 
posed to  be  issued,  make  or  offer  to  make  any  contract  or  agree- 
inpTit  whatever  for  any  deduction  from  any  premium  or  any 
addition  to  any  dividend  or  other  benefit  whatever,  on  account  of 
services  rendered  or  to  be  rendered  by  the  applicant  for  the 
policy  or  any  person  interested  therein,  either  as  an  advisor 
of  the  company  or  as  a  member  of  an  advisory  or  similar  board 
or  body  or  in  any  other  capacity  or  manner  whatever;  nor  con- 
tract for,  sell  or  offer  for  sale  any  stock  of  such  life  insurance 
company  or  any  stocks,  bonds  or  other  certificates  representing 


19550  DISCRIMINATION.  140 

any  interest  or  property  in  any  organized  company  or  corpora- 
tion which  shall  at  the  time  be  under  any  contract  or  agreement 
whatever  with  such  life  insurance  company,  or  own  or  control 
any  of  the  stock  thereof,  or  in  any  case  where  any  part  of  the 
stocks,  bonds  or  certificates  of  indebtedness  of  such  company  or 
corporation  shall  be  owned  or  held  by  such  life  insurance  com- 
pany. No  person  shall  so  contract  with  any  such  company  or 
agent  thereof,  or  receive  any  such  favor,  privilege  or  advan- 
tage whatever,  within  the  meaning  of  this  act. 

Penalty. 

4.  Any  officer,  director  or  agent  aforesaid  or  person  contract- 
ing with  such  company,  officer,  director  or  agent,  in  violation 
of  any  of  the  provisions  of  this  section  shall  be  punished  by  a 
fine  of  not  less  than  fifty  dollars  nor  more  than  three  hundred 
dollars  or  by  imprisonment  in  the  county  jail  for  a  term  not 
exceeding  six  months,  or  by  both  such  fine  and  imprisonment. 

License,  revocation. 

5.  Whenever  it  shall  appear  to  the  satisfaction  of  the  com- 
missioner of  insurance  after  a  hearing  before  him  upon  notice, 
that  any  company,  officer,  aerent,  sub-agent,  helper ^s  assent, 
broker  or  solicitor  has  violated  anv  provision  of  this  section,  he 
shall  revoke  the  license  of  anv  such  company  or  person  to  trans- 
act business  in  this  state,  and  no  other  license  shall  be  issued  to 
any  such  company  or  person  within  three  years  after  such  revo- 
vation. 

Commissioner's  demand  for  forms;  service,  response,  for- 
feiture. 

6.  Any  such  corporation,  company,  officer  or  asrent  of  such 
corporation  or  company  shall  unon  demand  in  writing  by  the 
commissioner  of  insurance,  furnish  said  commissioner  with  the 
form  or  forms  of  all  insurance  policies,  the  form  or  forms  of  all 
contracts  for  insurance  and  tha  form  or  forms  of  any  other 
paper  or  papers  pertaining  to  any  contract  of  insurance  or  the 
maintenance  of  the  same,  issued  or  u^jcd  or  authorized  to  be 
issued  or  used  by  said  corporation  or  company  or  by  its  agents 
or  representatives  in  or  about  the  business  of  life  insurance  car- 
ried on  by  said  corporation  or  company.  Upon  the  failure  on 
the  part  of  such  corporation  or  company  or  its  agents  or  repre- 
sentatives to  fully  comply  with  such  demand,  within  a  period  of 
fifteen  days  after  the  service  of  the  same,  the  commissioner  shall 
forthwith  revoke  the  authority  of  such  corporation  or  company, 


« 


141  PENAL  PROVISION.  19550—5 

or  the  license  of  such  agent  to  do  business  in  this  state,  Serv- 
ice of  such  demand  upon  an  agent  of  such  corporation  or  com- 
pany within  this  state,  or  a  deposit  of  the  same  registered  and 
addressed  to  the  home  office  of  such  corporation  or  company 
shall  be  sufficient  service. 

Self-criminating  testimony  required. 

7.  No  person,  officer  or  agent  of  any  corporation  within  the 
purview  of  this  act  shall  be  excused  from  attendance,  testifying 
or  producing  books,  papers,  contracts,  agreements  or  documents 
or  privileged  from  testifying  in  relation  to  anything  herein  pro- 
hibited before  the  commissioner  of  insurance  or  any  court,  or 
in  obedience  to  the  subpoena  of  any  court  having  jurisdiction 
of  the  offense  herein  prohibited,  on  the  ground  or  for  the  rea- 
son that  the  testimony  or  evidence,  documentary  or  otherwise 
required  of  him,  may  tend  to  criminate  him  or  subject  him  to 
a  penalty  or  forfeiture. 

Immunity  to  witness  save  for  perjury. 

8.  But  no  person  shall  be  liable  in  any  suit  or  prosecution, 
civil  or  criminal,  for  or  on  account  of  any  transaction,  matter 
or  thing  concerning  which  he  may  testify  or  produce  evidence, 
documentary  or  otherwise  before  said  commissioner  or  said 
court,  or  in  obedience  to  the  subpoena  of  said  court  or  the  de- 
mand of  said  commissioner  or  in  any  such  case  or  procedure; 
provided  that  no  person  so  testifying  or  producing  such  books, 
papers,  contracts,  agreements  or  documents  shall  be  exempt 
from  prosecution  and  punishment  for  perjury  committed  in  so 
testifying.  ■  '  i 

Evidence  barred  after  death  of  insured. 

9.  No  evidence  of  any  violation  of  the  provisions  of  this 
section  shall  be  received  in  any  action  brought  against  the  com- 
pany upon  any  policy  after  the  death  of  the  insured. 

Section  1955o  is  referred  to  in  section  1943  1. 


GENERAL  PENALTY  PROVISION. 

19550—5  (Ch.  438,  1907.) 

Penalty  for  violation  of  insurance  laws. 

Section   1955o — 5.     Any   corporation   violating   any    of  the 

provisions  of  the  laws  of  this  state  relating  to  insurance  shall, 

where  no  other  penalty  is  prescribed,  be  punished  by  a  fine  of 

not  more  than  five  thousand  dollars  and  any  person  violating 


1955X— 1  AGENT'S  LICENSE.  142 

any  of  the  provisions  of  the  laws  of  this  state  relating  to  in- 
surance shall,  where  no  other  penalty  is  prescribed,  be  pun- 
ished by  a  fine  of  not  more  than  one  thousand  dollars,  or  by 
imprisonment  in  the  county  jail  not  exceeding  one  year,  or  by 
both  such  fine  and  imprisonment. 


LICENSE. 

1955X— 1  (Gh.  599,  1907.) 

License,  none  to  corporation  as  agent. 

Section  1955x — 1.  No  corporation  or  stock  company  shall 
be  licensed  as  the  agent  or  representative  of  any  life  insur- 
ance company  or  association  in  soliciting,  selling,  or  in  any 
manner  placing,  life  insurance  policies  or  contracts  in  this 
state. 

2.  All  acts  and  parts  of  acts  inconsistent  with  the  provi- 
sions of  this  act,  are  hereby  repealed. 


ASSESSMENT  LIFE  COMPANIES. 

1955y— 1  (Ch.  447,  1907.) 

New  assessment  life  companies  not  admitted;  valuations. 

Section  1955y — 1.  No  life  insurance  company  or  associa- 
tion, other  than  fraternal  beneficiary  associations,  which  issue 
contracts,  the  performance  of  which  is  contingent  upon  the 
payment  of  assessments  or  calls  made  upon  its  members,  shall 
do  business  within  this  state  except  such  companies  or  associ- 
ations as  are  now  authorized  to  do  business  within  this  state 
and  which  shall  value  their  assessment  policies  or  certificates 
of  membership  as  yearly  renewal  term  policies  according  to  the 
standard  valuation  of  life  insurance  policies  prescribed  by  the 
laws  of  this  state. 

1955y— 2  (Ch.  447,  1907.) 

Assessment  life  companies;  organization;  valuation. 
Section  1955y — 2.  1.  Any  existing  domestic  assessment 
company  or  association  may,  with  the  written  consent  of  the 
insurance  commissioner  of  this  state,  upon  a  majority  vote  of 
its  trustees  or  directors,  amend  its  articles  of  incorporation  and 
by-laws  in  such  manner  as  to  transform  itself  into  a  legal  re- 
serve or  level  premium  company,  and  upon  so  doing  and  upon 
procuring  from  the  insurance  commissioner  a  certificate  of 
authority,  as  provided  by  law  to  transact  business  in  this 
state  as  a  lesfal  reserve  or  level  premium  company,  shall  incur 


143  ASSESSMENT  LIFE  COMPANIES.  1955— 7a 

the  obligations  and  enjoy  the  benefits  thereof,  the  same  as 
though  originally  thus  incorporated,  and  such  corporation, 
under  its  charier  as  thus  amended,  shall  be  a  continuation  of 
such  original  corporation,  and  the  officers  thereof  shall  serve 
through  their  respective  terms,  as  provided  in  the  original 
charter,  but  their  successors  shall  be  elected  and  serve  as  in 
such  amended  articles  provided;  but  such  amendment  or  re- 
incorporation shall  not  affect  existing  suits,  rights  or  con- 
tracts. 

2.  Any  assessment  company  reincorporated  to  transact  life 
insurance  business,  shall  value  its  assessment  policies  or  cer- 
tificates as  yearly  renewal  term  policies  according  to  the  stand- 
ard of  valuation  of  life  insurance  policies  prescribed  by  the 
laws  of  this  state. 

Section  2.  All  acts  and  parts  of  acts  inconsistent  with  the 
provisions  of  this  act,  are  hereby  repealed. 

Sections  1955—1  to  1955—16  (ch.  270,  1899  and  ch.  448, 
1901)  were  repealed  by  ch.  121,  1907. 

Section  1955-1  is  referred  to  in  section  1220. 

1955— 7a  (Ch.  221,  1901.) 
Investment  of  funds. 

(Sec.  1,  chapter  270  of  th^  laws  of  Wisconsin  for  the  year 
1899  is  hereby  amended  by  adding  a  new  section  to  be  known 
as  section  7a  and  to  read  as  follows:  Section  7a.  Invest- 
ment of  funds.) 

Section  1955 — 7a.  Any  such  corporation,  company  or  as- 
sociation organized  under  the  laws  of  this  state  may  invest  its 
funds  and  accumulations  in  the  bonds  of  the  United  States  or 
of  this  state  or  of  any  city,  town  or  village  therein,  or  in  first 
mortgages  upon  real  estate  worth  at  least  twice  the  sum 
loaned,  or  in  first  mortgage  bonds  of  any  steam  or  electric 
railway,  electric  light  or  gas  company  incorporated  under  the 
laws  of  this  state,  or  upon  promissory  notes  secured  by  pledge 
of  any  such  bonds  or  mortgages,  or  in  like  securities  of  other 
states  under  the  same  restrictions  as  in  this  state,  or  upon  its 
own  policies  as  security  to  the  amount  of  the  reserve  provided 
thereon  or  in  such  other  investments  or  securities  as  the  com- 
missioner of  insurance  may  approve,  and  may  exchange  out- 
standing policies  or  certificates  for  stipulated  premium  poli- 
cies and  provide  for  the  reserve  in  whole  or  in  part  by  lien 
or  loan  on  such  new  policies.  Any  such  corporation  may  buy 
and  hold  real  estate  for  home  office  purposes,  sell  and  convey 
the  same  or  any  real  estate,  required  by  foreclosure  or  received 
in  satisfaction  of  loans. 


1955—21  REINSURANCE.  144 


REINSURANCE;      DOMESTIC      LIFE,      ACCIDENT      OR 
HEALTH  COMPANIES. 

1955—21   (Sec.  1,  ch,  170,  1905.) 

Scope  of  enactment;  exception,  single  risk. 
Section  1955 — 21.  No  company  organized  under  the  laws 
of  this  state  to  do  the  business  of  life,  accident  or  health  in- 
surance, either  on  the  stock,  mutual  stipulated  premium,  as- 
sessment, or  fraternal  plan,  shall  consolidate  with  any  other 
company,  or  reinsure  its  risks,  or  any  part  thereof  with  an^^ 
other  company,  or  assume  or  reinsure  the  whole  of,  or  any 
portion  of  the  risks  of  any  other  company,  except  as  herein- 
after provided;  but  nothing  herein  contained  shall  prevent 
any  such  company,  organized  on  the  stock  or  mutual  plan, 
from  reinsuring  a  fractional  part  of  any  single  risk. 

See  section  1914a. 

1955—22   (Sec.  2,  ch.  170,  1905.) 
Petition  to  commissioner. 

Section  1955 — 22.  When  any  such  company  shall  propose 
to  consolidate  with  any  other  company,  or  to  enter  into  any 
contract  of  reinsurance,  it  shall  present  its  petition  to  the  com- 
missioner of  insurance  of  this  state,  setting  forth  the  terms  and 
conditions  of  such  proposed  consolidation  or  reinsurance,  and 
praying  for  the  approval  or  of  any  modification  thereof,  which 
the  commissioner  hereinafter  provided  for  may  approve. 

1955—23  (Sec.  3,  ch.  170,  1905.) 
Notice  to  policyholders. 

Section  1955 — 23.  The  commissioner  of  insurance  shall 
thereupon  issue  an  order  of  notice,  requiring  notice  to  be 
given  by  mail  to  each  policyholder  of  such  company,  of  the 
pending  of  such  petition,  and  the  time  and  place  at  which 
hearing  thereon  will  be  held,  and  shall  publish  the  said  order 
of  notice  and  said  petition  in  five  daily  newspapers,  one  of 
which  shall  be  the  official  state  paper,  for  at  least  two  weeks 
before  the  time  appointed  for  the  hearing  upon  said  petition. 

1955— 23m   (Ch.  33,  1909,  in  effect  April  2,  1909.) 
Reinsurance;  disability  company;  notice;  hearing. 

Section  1955 — 23m.  In  lieu  <^f  proceed  ng  under  sections 
1955 — 22  and  1955 — 23,  any  accident  or  health  company,  may 
consolidate  iind  enter  into  a  contrnet  of  reinsurance  with  any 


145  REINSURANCE.  1955—24 

other  company  by  filing  with  the  commissioner  of  insurance  a 
copy  of  such  contract  and  all  papers  relating  thereto,  which  con- 
soldation  and  reinsurance  shall  take  effect  upon  such  filing  and 
the  mailinp:  to  each  person  holding  a  policy  so  reinsured  a  notice 
thereof.  Provided,  that  if  the  holders  of  not  less  than  five  per 
cent  of  such  i  olicies  so  reinsured  shall  within  th'rty  days  there- 
after file  a  petition  with  the  commissioner  of  insurance  for  a 
hearing  on  the  question  of  such  re'nsurance,  the  commissioner 
shall,  and  without  such  petition  may,  order  a  hearing  as  pro- 
vided in  section  1955—24,  notice  of  which  shall  be  given  by  the 
company  by  mail  to  each  holder  of  such  pol'cy,  so  reinsured  at 
least  ten  days  before  such  hearing,  and  thereupon  proceedings 
shall  be  had  as  provided  in  sections  1955 — 24  and  1955 — 25. 

Section  1955 — 23m  is  referred  to  in  section  1955 — 25. 

1955—24  (Sec.  4,  ch.  170,  1905  ) 
Commission  to  hear  petition. 

Section  1955 — 24.  The  governor,  or  in  event  of  his  ina- 
bility to  act,  some  competent  person  resident  of  the  state  to  be 
appointed  by  h'm,  the  attorney  general,  and  the  commissioner 
of  insurance  of  the  state,  shall  constitute  a  commission  to  hear 
and  determine  upon  said  petition.  At  the  time  and  place  fixed 
in  said  notice,  or  at  such  t'me  and  place  as  shall  be  fixed  by 
adjournment,  the  commission  shall  proceed  with  the  hearing, 
and  may  make  or  order  such  examinaticn  into  the  affairs  and 
condition  of  sad  company  as  it  may  deem  proper.  The  com- 
missioner of  insurance  shall  have  the  power  to  summon  and 
compel  the  attendance  and  testimony  of  witnesses  and  the  pro- 
duction of  books  and  papers  before  said  commission.  Any 
policyholder  or  stockholder  of  the  company  or  companies  so 
pet'tioning  may  appear  before  said  commission  and  be  heard  in 
reference  to  said  consolidation  or  reinsurance.  Said  commis- 
sion, if  satisfied,  that  the  interest  of  the  policyholders  of  such 
company  or  companies  are  properly  protected,  and  that  no  rea- 
sonable objection  ex'sts  thereto,  may  approve  and  authorize 
the  proposed  consolidation  or  re-insurance,  or  may  modify  or 
change  the  terms  and  conditions  thereof  as  may  seem  best  for 
the  interests  of  the  policyholders,  and  said  commission  may 
make  such  order  with  reference  to  the  distribution  and  dis- 
position of  the  surplus  assets  of  any  such  company  thereafter 
remaining,  as  shall  be  just  and  equitable  to  the  policyholders. 
Such  consolidation  or  reinsurance  shall  only  be  approved  by 
the  consent  of  all  the  members  of  said  commission,  and  it  shall 
be  the  duty  of  said  commission  to  guard  the  interests  of  the 

10— T.    J  J. 


1955—25  FOREIGN  HAIL  COMPANIES.  146 

policyholders  of  any  such  company  or  companies  proposing  to 
consolidate  or  reinsure. 

Section  1955 — 24  is  referred  to  in  section  1955 — 23m, 

1955—25   (Ch.  33,  1909,  in  effect  April  2,  1909.) 

Reinsurance;    disability    company;    expenses;    compensa- 
tion prohibited. 

Section  1955—25.  All  actual  expenses  and  costs  incident  to 
proceedings  under  the  provisions  of  this  act  shall  be  paid  by  the 
company  or  companies  bringing  said  petition,  or  effecting  sucli 
reinsurance,  and  an  itemized  statement  of  the  expenses  and 
costs  shall  be  filed  in  the  department  of  insurance  with  a  certi- 
fied copy  of  the  dec.sion  of  the  commission,  I'rovided,  that  in 
the  discretion  of  the  commission  the  petitioners  under  section 
1955 — 237n  may  be  ordered  to  pay  all  or  a  part  of  such  expenses 
and  costs.  No  officer  of  any  such  company  or  companies,  ex- 
cept as  fully  expressed  in  the  contract  of  reinsurance,  and  no 
member  of  said  commission,  or  employe  of  the  state,  shall  re- 
ceive any  compensation,  gratuity  or  otherwise,  directly  or  in- 
directly for  in  any  manner  aiding,  promoting  or  assisting  in 
such  consolidation  or  reinsurance. 

Section  1955 — 25  is  referred  to  in  section  1955 — 23m. 

1955—26  (Sec.  6,  ch.  170,  1905.) 
Penalty. 
Section  1955 — 26.  Any  officer,  director  or  stockholder  of 
any  such  company  or  companies,  or  any  member  of  such  com- 
mission or  employe  of  the  state,  violating  or  consenting  to  the 
violation  of  the  provisions  of  this  act  shall  be  punished  by  a 
fine  of  not  less  than  ten  thousand  dollars  and  by  imprisonment 
for  not  less  than  one  year,  nor  more  than  ten  years. 


HAIL  INSURANCE  OOIMPANIES,  FOREIGN. 

1966—1   (1898;  ch.  106,  1905  ) 

Admission;  conditions;  attorney;  service  of  process;  fees. 

Section  1966—1.  It  shall  be  lawful  for  hail  insurance  com- 
panies organized  under  the  laws  of  any  other  state  to  insure 
crops  in  this  state  against  loss  or  damage  by  hail  upon  com- 
plying with  the  following  conditions:  Such  company  shall 
within  the  month  of  January  in  each  year,  file  with  the  com- 
missioner of  insurance  a  statement  showing  its  financial  con- 
dition and,  if  a  stock  company,  the  amount  of  capital  stock, 


147  FOREIGN  CASUALTY  COMPANIES.  1966—32 

the  amount  of  said  stock  paid  in  in  cash  and  the  amount  in 
notes  of  the  stockholders,  the  names  and  residences  of  the 
stockholders  on  the  thirty- first  day  of  December  of  eaeh  year; 
and  such  company  shall  thereupon  obtain  from  said  commis- 
sioner a  certificate,  under  his  hand  and  seal  of  office  author- 
izing it  to  do  business  in  this  state  for  the  next  ensuing  year, 
and  certifying  that  he  has  examined  into  the  affairs  thereof; 
that  the  stockholders,  in  case  of  a  stock  company,  are  solvent 
and  responsible,  able  to  pay  at  once  their  stock  notes  and  any 
liability  that  attaches  to  them  as  stockholders;  that  the  whole 
amount  of  stock  subscribed  is  not  less  than  twenty-five  thou- 
sand dollars,  and  that  said  company  is  solvent,  as  he  verily  be- 
lieves; provided,  that  the  stockholders  on  the  thirty-first  day 
of  December  in  each  year,  as  shown  to  the  commissioner  and 
as  they  appear  in  his  said  certificate,  shall  remain  liable  as  such 
stockholders  for  one  year  from  that  date  whether  said  stock  is 
disposed  of  or  not;  and  provided  further,  that  such  company 
receiving  such  certificate,  shall  at  or  prior  to  receiving  the  same, 
file  with  said  commissioner  a  stipulation  to  the  effect  that  in 
all  suits  brought  against  it  in  this  state  service  of  summons  shall 
be  made  upon  said  company  by  leaving  a  copy  of  the  summons 
with  said  commissioner,  and  service  so  made  shall  have  the  same 
effect  as  if  made  upon  a  corporation  of  this  state;  and  provided, 
further,  that  such  company  shall  pay  the  same  fees  and  taxes 
as  are  provided  by  law  in  case  of  foreign  life  insurance  com- 
panies. 

FOREIGN   CASUALTY   COMPANIES. 

1966--32 

Admission;  condition. of  doing  business. 
Section  1966 — 32.  Any  casualty  insurance  or  suretyship 
corporation  organized  under  the  laws  of  any  other  state  or  for- 
eign country  may  be  admitted  to  transact  business  in  this  state 
by  filing  with  the  commissioner  of  insurance,  for  his  approval, 
the  following  documents  and  papers : 

1.  An  application  for  license  to  do  business  in  this  state,  set- 
ting forth  the  full  name  of  the  corporation,  the  location  of  its 
principal  office  of  business  and,  separately,  the  several  kinds  of 
business  to  be  transacted;  said  application  to  be  signed  only  by 
the  president  or  general  manager. 

2.  A  statement  verified  by  the  oath  of  the  persident,  secre- 
tary or  manager  residing  in  the  United  States,  showing  to  the 
satisfaction  of  said  commissioner  that  the  corporation  has  a 
capital  stock  of  at  least  one  hundred  thousand  dollars  and  has 


1966—32  FOREIGN  CASUALTY  COMPANIES.  148 

a  like  amount  invested  in  securities  deposited  with,  the  super- 
intendent of  the  insurance  department,  state  treasurer  or  other 
proper  officer  of  some  one  of  the  states  of  the  United  States, 
that  such  securities  are  not  pledged  or  incumbered  and  have 
a  market  value  of  at  least  one  hundred  thousand  dollars,  but 
are  held  and  remain  for  the  benefit  and  security  of  the  policy- 
holders of  such  corporation  residing  in  the  United  States,  or 
in  default  of  such  statement  shall  deposit  with  the  state  treas- 
urer, for  the  benefit  and  security  of  policyholders  residing  in 
this  state,  not  less  than  fifty  thousand  dollars  in  such  securities ; 
provided,  that  if  such  corporation  shall  desire  to  do  business 
under  more  than  one  of  the  subdivisions  of  section  1966 — 25  it 
shall  make  an  additional  deposit  of  fifty  thousand  dollars  in 
securities  as  aforesaid  for  each  additional  subdivision  that  it 
desires  to  do  business  under.  The  stocks  and  securities  so  de- 
posited may  be  exchanged  from  time  to  time  for  other  securities 
to  be  approved  by  the  commissioner  of  insurance,  and  so  long 
as  the  corporation  so  depositing  shall  continue  solvent  and  com- 
ply with  the  laws  of  this  state  it  may  be  permitted  by  the  state 
treasurer  to  collect  the  interest  or  dividends  on  said  securities. 

3.  A  copy  of  its  charter  and  by-laws,  duly  certified  to  by  the 
superintendent  of  the  insurance  department  or  other  proper  officer 
of  the  state  or  country  wherein  incorporated,  together  with  a 
certificate  of  such  officer  that  the  corporation  is  duly  organ- 
ized and  licensed  to  transact  the  business  of  casualty  or  fidelity 
insurance  in  such  state  or  country,  stating  separately  the  differ- 
ent kinds  as  provided  in  section  1966 — 25,  together  with  an  ap- 
pointment of  the  commissioner  of  insurance  of  this  state  and  his 
successors  in  office  an  attorney  upon  w^hom  any  summons,  notice 
or  process  of  any  court  of  this  state  may  be  served,  as  required 
of  fire  insurance  corporations  of  other  states. 

4.  A  complete  statement  of  the  financial  condition,  as  shown 
by  the  last  annual  statement  of  the  insurance  department  of  the 
state  or  country  wherein  incorporated,  and  a  financial  state- 
ment showing  the  condition  of  the  corporation  on  the  first  day 
of  the  month  next  preceding  the  ^ate  of  application.  All  such 
corporations  admitted  to  transact  business  in  this  state  must 
comply  with  the  laws  governing  like  corporations  organized 
under  the  laws  of  this  state,  except  as  hereinbefore  pro- 
vided ;  and  all  such  corporations  and  all  persons  acting  as 
agents  thereof  shall  be  subject  to  the  same  penalties  prescribed 
by  these  statutes  relating  thereto  for  a  violation  of  any  of  the 
provisions  thereof  and  to  the  same  methods  for  the  enforcement 
of  such  penalties. 

Section  1966-32  referred  to  in  section  2637  (9). 


149  CASUALTY  COMPANIES.  1966—33 

1966—33 

Fidelity  bonds;  acceptance  authorized;  execution  of  au- 
thorized. 

Section  1966 — 33.  Whenever  any  bond,  recognizance,  obli- 
gation, stipulation  or  undertaking  is  by  law  or  the  rules  or  regu- 
lations of  any  board,  body,  or  organization  required  or  permitted 
to  be  made,  given,  tendered  or  filed  for  the  security  or  protec- 
tion of  any  person,  persons,  corporation,  state,  county,  munici- 
pality or  other  organization  whatsoever,  conditioned  for  the 
doing  or  not  doing  of  any  thing  in  any  such  instrument  speci- 
fied, any  and  all  heads  of  departments,  public  officers,  state, 
county,  town  or  municipal,  and  any  and  all  boards,  municipali- 
ties, committees  thereof,  courts  and  judges  now  or  hereafter 
required  or  permitted  to  accept  or  approve  the  sufficiency  of  any 
such  bond  recognizance,  obligation,  stipulation  or  undertaking 
may  accept  and  approve  the  same  whenever  the  same  is  exe- 
cuted or  the  conditions  thereof  are  guaranteed  solely  by  a  cor- 
poration authorized  to  guarantee  the  fidelity  of  persons  holding 
places  of  public  or  private  trust  and  the  performance  of  con- 
tracts, other  than  of  insurance,  and  to  execute  and  guarantee 
bonds  and  undertakings  required  or  permitted  in  actions  or 
proceedings  or  by  law  allowed;  and  whenever  any  such  bond, 
recognizance,  obligation,  stipulation  or  undertaking  is  so  re- 
quired or  permitted  to  be  made,  given,  tendered  or  filed  with  one 
surety  or  with  two  or  more  sureties  the  execution  of  the  same 
or  the  guaranteeing  of  the  performance  of  the  conditions  thereof 
shall  be  sufficient  when  executed  or  guaranteed  solely  by  such 
corporation  so  authorized,  and  shall  be  in  all  respects  a  full  and 
complete  compliance  with  every  requirement  of  every  law,  or- 
dinance, rule  or  regulation  that  such  bond,  undertaking,  recog- 
nizance, obligation  or  stipulation  shall  be  executed  or  guaranteed 
by  one  or  more  sureties,  or  that  such  sureties  shall  be  residents, 
householders  or  freeholders,  and  any  and  all  heads  of  depart- 
ments, courts,  judges,  boards,  municipalities  or  committees 
thereof,  and  any  and  all  public  officers,  state,  county,  town  or 
municipal,  whose  duty  it  may  be  to  accept  or  approve  the  suf- 
ficiency of  any  such  instrument,  may  accept  and  approve  the 
same  when  executed  or  guaranteed  solely  by  such  a  corpora- 
tion ;  and  all  such  corporations  may  execute  or  guarantee  such 
bonds,  recognizances,  stipulations,  obligations  or  undertakings, 
whether  given  under  the  laws  of  this  state  or  of  the  United 
States,  or  of  any  other  state  or  country. 

Section  1966-33  is  referred  to  in  section  1966-35. 


1966— 33a  CASUALTY  COMPANIES.  150 

1966— 33a  (Ch.  106,  1903.) 

Fidelity  bond  in  jusace  court;  form;  certificate  to  accom- 
pany. 

Section  1966 — 33a.  Whenever  a  justice  of  the  peaxie  in  a 
civil  action  shall  require  the  plaintiff  to  give  security  for  costs 
or  other  purposes,  such  security  may  be  given  by  filing  an  un- 
dertaking by  any  surety  company  authorized  to  do  business  in 
this  state,  executed  either  before  or  after  commencement  of  the 
action,  in  which  undertaking  the  surety  company  shall  agree  to 
become  surety  for  costs  or  for  costs  and  damages,  or  otherwise, 
as  required  by  law  in  the  action.  The  undertaking  may  be  sub- 
stantially in  the  following  form : 

Whereas  an  action  has  been  commenced  (or  is  about  to  be  com- 
menced) in  a  justice  court  in  the  county  of in  which 

action is  plaintiff  and is  defendant. 

Now,  therefore,  the company,  a  surety  company  duly 

authorized  by  law  to  do  business  in  the  state  of  Wisconsin,  undertakes 
and  agrees  to  become  surety  for  costs,  (or  for  costs  and  damages)  in 

said  action Dated ,19 

Company by 

The  undertaking,  when  filed,  shall  be  accompanied  with  the 
certificate  of  the  commissioner  of  insurance,  or  a  copy  thereof 
duly  certified  by  him,  mentioned  in  section  1966 — 34  of  the 
statutes  of  1898. 

1966-34 

Certificate  of  authority  to  make  fidelity  bond. 

Section  1966 — 34.  The  commissioner  of  insurance,  upon  due 
proof  by  a  suretyship  company  of  its  possessing  the  qualifica- 
tions required,  shall  issue  a  certificate  setting  forth  that  it  has 
qualified  and  is  authorized  for  the  ensuing  year  to  do  business 
under  these  statutes,  which  certificate  or  a  copy  thereof  certi- 
fied bv  the  commissioner  of  insurance  shall  be  evidence  of  such 
qualification  and  of  the  company's  authority  to  become  and  to 
be  accepted  as  sole  surety  on  all  instruments  mentioned  in  the 
Drecedinsr  section,  of  its  solvency  and  credit  for  all  purposes  and 
its  sufficiency  as  such  surety ;  and  said  certificate  or  a  copy 
thereof  certified  as  aforesaid  shall  be  equivalent  to  the  justifi- 
cation required  of  sureties  by  law. 

Section  1966-34  is  referred  to  in  section  1966-33. 

1966—35 

Release  from  liability  or  fidelity  bond. 

Section  1966 — 35.  Any  corporation  executinsr  any  instru- 
ment within  section  1966 — 33  may  be  released  from  its  liability 
thereon  on  the  same  terms  and  conditions  as  are  or  may  be  by 
law  prescribed  for  the  release  of  individuals  upon  the  same. 


151  CASUALTY  COMPANIES.  1966—36 

1966-^6  (1898;  sec.  30,  ch.  351,  1899.) 

Fidelity  bond  premium,  changeable  as  acts  or  disburse- 
ments. 

Section  1966 — 36.  Any  receiver,  assignee,  guardian,  com- 
mittee, trustee,  executor,  administrator  or  other  judiciary,  re- 
quired by  law  or  the  order  of  any  court  or  judge  to  give  a 
bond  or  other  obligation  as  such,  may  include  as  a  part  of  the 
lawful  expense  of  excuting  his  trust  such  reasonable  sum  paid 
a  corporation  authorized  by  law  so  to  do  for  becoming  his 
surety  on  such  bond  or  obligation  as  may  be  allowed  by  the 
court  in  which  or  the  judge  before  whom  he  is  allowed  or  re- 
quired to  account,  not  exceeding  one  per  cent  per  annum  on 
the  amount  of  such  bond  or  obligation  by  such  surety  exe- 
cuted; and  in  all  actions  or  proceedings  the  party  entitled  to 
recover  costs  may  include  therein  such  reasonable  sum  as  may 
have  been  paid  by  him  to  such  corporation  for  executing  or 
guaranteeing  any  bond  or  obligation  therein,  not  exceeding 
two  per  centum  of  the  amount  of  such  obligation. 

1966-^7 

Deposit  of  money  by  principal  or  fidelity  bond. 

Section  1966 — 37.  Any  receiver,  assignee,  guardian,  trus- 
tee, committee,  executor,  administrator,  or  other  fiduciary  or 
party  of  whom  a  bond,  undertaking  or  other  obligation  is  re- 
quired may  agree  and  arrange  with  his  surety  or  sureties  for 
the  deposit  for  safe  keeping  of  any  or  all  money,  assets  and 
other  property  for  which  he  is  or  may  be  responsible,  with  a 
bank,  savings  bank,  safe  deposit  or  trust  company  authorized 
by  law  to  do  business  as  such,  and  in  such  manner  as  to  pre- 
vent the  withdrawal  or  alienation  of  such  money,  assets  or 
other  property  or  any  part  thereof,  without  the  written  eon- 
sent  of  such  surety  or  sureties  or  an  order  of  the  court  or 
a  judge  thereof,  made  on  such  notice  to  such  surety  or  sure- 
ties as  the  court  or  judge  may  direct. 

1966—88  (1898;  ch   436,  1903;  ch.  205,  1905.) 

Expense  fidelity  bond;  when  paid  by  state  or  municipal- 
ity; limitajion. 
Section  1966 — 38.  The  state,  any  county,  town,  village  or 
city  may  pay  out  of  the  funds  thereof  the  cost  of  any  official 
bond  furnished  by  any  officer  pursuant  to  law  or  any  rules  or 
regulations  requiring  the  same,  if  said  officer  shall  furnish  a 
Dond  with  a  surety  company  or  companies  authorized  to  do 
business  in  this  state,  said  cost  not  to  exceed  one-eighth  of  one 


1966—39  CASUALTY  COMPANIES.  152 

per  centum  on  the  amount  of  said  bond  or  obligation  by  said 
surety  executed. 

The  provisions  of  this  section  relating  to  the  cost  of  such 
bond  shall  not  apply  to  bonds  furnished  by  county  officers. 
In  such  cases  the  cost  of  the  bond  or  bonds  may  be  fixed  by 
agreement  between  the  county  board  and  the  surety  com- 
pany, and  shall  not  be  limited  to  one-eighth  of  one  per  cen- 
tum of  the  amount  of  said  bond.  Any  and  all  acts  or  parts 
of  acts  conflicting  or  inconsistent  with  the  provisions  of  this 
act  are  hereby  repealed. 

1966—39 

Fidelity  bond;  estoppel. 

Section  1966 — 39.  Any  corporation  which  shall  execute 
any  bond,  recognizance,  obligation,  stipulation  or  undertaking 
as  surety  shall  be  estopped,  in  any  proceeding  to  enforce  the 
liability  which  it  shall  have  assumed  to  incur,  to  deny  its 
power  to  execute  the  same  or  assume  such  liability. 

1966—40 

Credit  guarantee  business;  powers. 
Section  1966 — 40.  Any  corporation  organized  under  the 
laws  of  this  state  or  licensed  to  do  a  credit  guarantee  business 
therein  may  guarantee  from  loss  and  agree  to  pay  to  mer- 
chants, manufacturers,  dealers  and  other  persons  engaged  in 
business  and  giving  credit  in  the  same  the  debt  or  debts  ow- 
ing to  them,  indemnify  them  from  loss,  charge  and  receive 
therefor  such  a  sum  as  consideration  for  such  agreement  of 
indemnity  as  shall  be  agreed  upon,  buy,  hold,  own  and  take 
an  assignment  of  any  and  all  claims,  accounts  and  demands 
so  guaranteed  and  hold,  own  and  collect  the  same  and  en- 
force the  collection  thereof  by  action  the  same  as  the  original 
holder  and  owner  thereof  might  or  could  do ;  and  may  also 
insure  the  payment  of  money  for  personal  services  under  con- 
tracts of  hiring.  Any  such  corporation  may  use  its  capital 
stock  or  other  funds  to  purchase  or  pay  for  any  claim  or  de- 
mand the  payment  of  which  it  has  guaranteed. 

1966—42 

Employer's  liability  policy:  conditions  to  be  specified. 

Section  1966 — 42.  No  casualty  corporation  issuing  em- 
ployer's liability  policies  shall  condition  the  same  upon  com- 
pliance by  the  assured  with  **any  law  or  ordinance  respecting 
the  safety  of  persons,'*  but  shall  clearly  and  distinctly  state 


153  CASUALTY  COMPANIES.  1966—44 

what  conditions  and  requirements  are  to  be  complied  with  by 
him. 

1966—44 

Dividends;  liability  of  directors  and  stockholders;  limita- 
tion. 

Section  1966 — 44.  The  directors  of  any  such  corporation 
shall  not  make  any  dividend,  except  from  the  surplus  profits 
arising  from  their  business,  nor  divide,  withdraw  or  in  any 
way  pay  to  the  stockholders  or  any  of  them  any  part  of  its 
capital  or  reduce  the  net  surplus  of  the  corporation  to  an 
amount  less  than  ten  per  cent,  of  its  capital  stock,  except  as 
authorized  by  law.  For  a  violation  of  any  of  the  provisions 
of  this  section  the  directors  under  whose  administration  the 
same  happened  (except  those  who  have  caused  dissent  there- 
from to  be  entered  at  large  upon  the  minutes  of  such  direc- 
tors' meeting  at  the  time  or  were  not  present  when  the  action 
was  taken)  shall  jointly  and  severally  be  liable  to  the  corpora- 
tion and  its  creditors  to  the  full  amount  of  the  capital  of  the 
corporation  so  divided,  withdrawn,  paid  out  or  reduced.  In 
estimating  such  profits  there  shall  be  reserved  therefrom  a 
sum  equal  to  the  whole  amount  of  unearned  premiums  on  un- 
expired risks  and  policies,  all  sums  due  the  corporation  on 
bonds,  mortgages,  stocks  and  book  accounts  of  which  no  part 
of  the  principal  or  the  interest  thereon  has  been  paid  during 
the  last  year  and  for  the  collection  of  which  no  action  or  pro- 
ceedings has  been  commenced,  or  which,  after  judgment  ob- 
tained thereon,  shall  remain  more  than  two  years  unsatisfied 
and  on  which  interest  shall  not  have  been  paid  all  interest 
due  and  remaining  unpaid  and  all  deposits  for  the  special 
protection  of  policyholders  of  other  states  or  of  foreign 
countries.  Any  such  .  corporation  may  declare  dividends  in 
any  year  not  exceeding  ten  per  cent,  of  its  capital  stock,  if, 
in  addition  to  the  amount  of  such  stock,  plus  ten  per  cent, 
thereof  and  of  such  dividends  and  all  its  outstanding  liabili- 
ties it  shall  have  accumulated  and  be  in  possession  of  a  law- 
ful fund  equal  to  the  amount  of  all  unearned  premiums  on 
risks  not  terminated  at  the  time  of  making  such  dividend.  No 
dividend  in  excess  of  said  ten  per  cent,  of  its  capital  stock 
shall  be  declared  as  hereinbefore  provided  until  such  corpora- 
tion shall  be  in  possession  of  a  net  surplus  equal  to  one-half 
of  its  capital  stock.  Any  dividend  made  contrary  to  these 
provisions  shall  be  cause  for  the  forfeiture  of  the  charter  of 
the   corporation   making   it,    and   each   stockholder   receiving 


1966—45  CASUALTY  COMPANIES.  154 

such  dividend  shall  be  liable  to  its  creditors  to  the  extent  of 
the  dividend  received,  in  addition  to  the  other  penalties  and 
punishments  prescribed  by  law.  The  word  "year,"  whenever 
used  in  this  section^  shall  not  be  construed  to  mean  the  calen- 
dar year. 

See  notes  to  section  1901. 

1966—45 

OapitaJ  stock;  dividend;  increase;  consent  of  directors; 
of  stocKholaers. 

Section  Ibibb — lo.  Any  domestic  casualty  insurance  or 
suretyship  corporation,  whenever  it  shall  have  accumulated 
and  De  in  possession  of  a  fund,  in  addition  to  the  amount  of 
its  capital  stock  and  all  actual  outstanamg  liaoilities,  includ- 
ing re-insurance  reserve  in  excess  of  one-half  of  the  amount 
of  all  premiums  on  risks  not  terminated,  may  increase  its 
capital  Siock  from  such  lund  and  distribute  the  increase  pro 
rata  to  its  stocknolders ;  proviaed,  that  such  increase  shall  be 
equal  to  at  least  twenty-nve  per  cent,  of  the  original  capital 
stock  and  shall  have  been  autJiorized  by  at  least  three-fourths 
of  the  directors  and  approved  by  the  commissioner  of  insur- 
ance, and  that  any  sucn  corporation  may  declare  a  dividend 
as  provided  in  the  preceding  section.  It  may  at  any  time  in- 
crease its  capital  stock  (alter  notice  of  such  intention  given 
once  a  week  for  four  weeks  in  any  newspaper  published  in 
the  county  where  such  corporation  is  located),  with  the  writ- 
ten consent  of  three-fourths  in  mount  of  its  stockholders,  un- 
less otherwise  provided  in  its  articles  of  organization,  by  al- 
tering or  amending  the  same  in  this  respect  and  filing  a  copy 
thereof,  so  amended,  together  with  a  declaration  under  its 
corporate  seal,  signed  by  its  president  and  directors,  of  its 
desire  so  to  do,  with  such  written  consent  of  its  stockholders 
to  such  increase,  in  the  office  of  the  commissioner  of  insur- 
ance, whereupon  the  same  proceedings  shall  be  had  as  are 
required  upon  the  organization^  of  such  a  corporation. 

1966—46 

Impairment  of  capital,  how  made  good. 

Section  1966 — 46.  Whenever  it  shall  appear  to  the  com- 
missioner of  insurance,  from  any  statement  made  to  him,  from 
an  examination  made  by  him,  or  by  any  examiner  appointed 
by  him,  that  the  capital  stock  of  any  such  corporation  is  im- 
paired to  an  amount  exceeding  twenty  per  cent,  thereof,  and 
he  shall  be  of  the  opinion  that  the  interest  of  the  public  will 


155  CASUALTY  COMPANIES.  1966—46 

not  be  prejudiced  by  permitting  sucb  corporation  to  con- 
tinue business  with  a  reduced  capital,  such  corporation  may, 
with  his  permission,  reduce  its  capital  stock  and  the  par  value 
of  the  shares  thereof  to  such  an  amount  as  he  shall  certify 
to  be  in  his  opinion  justified  by  the  assets  of  such  corporation; 
but  no  part  of  such  assets  shall  be  distributed  to  the  stock- 
holders, nor  shall  such  capital  stock  be  reduced  to  an  amount 
less  than  the  sum  required  by  law  for  the  organization  of  a 
new  corporation  for  the  transaction  of  the  same  kind  of  busi- 
ness as  the  corporation  is  enga-ged  in.  Such  a  reduction  of 
the  capital  shall  only  be  made  upon  a  vote  of  a  majority  of 
the  stock  represented  at  a  meeting  legally  called  for  that 
purpose.  If  in  the  opinion  of  the  commissioner  of  insurance, 
such  reduction  will  not  be  to  the  interest  of  the  policyholders, 
or  in  the  event  of  the  refusal  of  the  stockholders,  to  consent 
thereto,  he  shall  determine  the  amount  of  the  impairment  or 
deficiency  and  issue  a  written  requisition  to  the  corporation 
requiring  its  stockholders  to  make  good  the  amount  of  im- 
pairment or  deficiency  within  such  period  as  he  may  designate, 
not  less  than  thirty  nor  more  than  ninety  days  from  the  serv- 
ice of  the  requisition.  Upon  receipt  of  such  requisition  the 
directors  shall  forthwith  call  upon  the  stockholders  ratably 
for  such  amounts  as  will  make  up  such  impairment  or  de- 
ficiency. If  any  stockholder  refuse  or  neglect  to  pay  the 
amount  called  for  after  notice,  given  personally  or  by  adver- 
tisement, in  such  time  as  will  comply  with  the  order  of  said 
commissioner  the  directors  may,  by  resolution,  declare  the 
stock  of  such  person  cancelled ;  but  such  failure  to  pay  shall 
not  release  the  stockholder  from  any  liability  to  the  corpora- 
tion. The  directors  may  issue  new  certificates  of  stock  in 
lieu  of  the  stock  so  forfeited  and  dispose  of  the  same  at  not 
less  than  par.  For  any  losses  accruing  upon  new  risks  taken 
after  the  expiration  of  the  period  limited  by  the  commissioner 
of  insurance  in  any  such  order  and  before  such  impairment 
shall  be  made  up,  the  directors  shall  be  jointly  and  severally 
liable  to  the  extent  thereof;  and  any  transfer  of  stock  made 
during  the  pendency  of  any  such  examination  or  after  any 
such  order  shall  have  been  made  and  before  any  impairment 
or  deficiency  specified  therein  shall  be  made  good,  shall  not 
release  the  person  making  the  transfer  from  his  liability  for 
loss  accruing  previous  thereto.  If  the  amount  of  such  im- 
pairment or  deficiency  shall  not  be  made  good  within  the 
time  specified  in  such  order  the  corporation  shall  be  deemed 
insolvent,  and  it  shall  be  the  duty  of  the  commissioner  of  in- 


1966—47  CASUALTY  COMPANIES.  156 

surance  and  the  attorney-general  to  apply  forthwith  for  the 
appointment  of  a  receiver  and  the  forfeiture  of  its  franchises. 

1966—47 

Reserve  liability. 

Section  1966 — 47.  In  computing  the  reserve  liability  of 
casualty  insurance  and  suretyship  corporations  the  commis- 
sioner of  insurance  shall  make  such  calculations  as  in  his  judg- 
ment are  equitable  and  just  to  both  policyholders  and  the  com- 
pany; provided,  that  such  liability  so  determined  shall  not  be 
less  than  fifty  per  cent,  of  the  premiums  written  in  the  com- 
pany's policies. 

1966—48 

Re-insurance  by  receiver. 

Section  1966 — 48.  The  receiver  of  any  casualty  insurance 
or  suretyship  corporation,  when  authorized  by  the  court  so  to 
do,  may  re-insure  all  its  policy  risks  in  any  solvent  corpora- 
tion authorized  to  do  a  similar  business  in  this  state,  if  the 
assets  of  the  corporation  of  which  he  is  receiver  are  sufficient 
to  effect  such  re-insurance;  if  such  assets  are  insufficient  the 
receiver,  upon  the  like  consent,  may  re-insure  a  percentage  of 
each  such  risk  of  such  corporation  outstanding  to  the  extent  of 
its  assets  available  for  that  purpose. 

1966— 49a  (Ch.  235,  1901.) 

Notice  of  injury,  what  sufficient;  condition  to  be  printed 
on  policy;  service  of. 

Section  1966 — 49a.  It  shall  be  unlawful  for  any  accident  or 
casualty  insurance  company,  corporation  or  association  licensed 
to  transact  business  in  the  state  of  Wisconsin,  its  officers,  em- 
ployees or  agents  to  limit  by  any  means  or  in  any  manner  the 
time  for  the  service  of  any  notice  of  injury  that  may  be  required 
of  the  person  insured,  to  a  less  period  of  time  than  twenty  full 
calendar  days. 

The  time,  not  less  than  twenty  full,  calendar  days,  that  may 
be  required  of  any  insured  person  for  serving  a  notice  of  in- 
jury as  provided  in  section  1  of  this  act,  shall  be  clearly  and 
conspicuously  written  or  printed  upon  the  face  of  every  acci- 
dent or  casualty  insurance  policy  or  certificate  issued  to  any 
person. 

The  deposit  in  any  postoffice  by  any  insured  person,  his  agent 
or  attorney,  of  a  registered,  postage  prepaid  letter,  containing 
the  proper  notice  of  injury  at  any  time  within  twenty  full, 
calendar  days  after  the  injury  received  by  the  assured,  prop- 


157  DEPARTMENT  OF  INSURANCE.  1967 

erly  addressed  to  the  company,  corporation  or  association  issu- 
ing the  accident  or  casualty  policy  or  certificate  shall  be  a  law. 
ful  and  sufficient  service  of  any  notice  of  injury  that  may  bt. 
required. 

See  note  to  section  1966-21. 


THE  DEPARTMENT  OF  INSURANCE. 

1967  (1898;  chs.  180  and  425,  1905  ) 
Ccymmissioner's  oath,  bond,  etc. 
Section  1967.  Before  entering  upon  the  duties  of  his  office 
the  commissioner  of  insurance  shall  take  and  subscribe  to  an 
oath  of  office,  to  be  filed  with  the  secretary  of  state,  and  execute 
a  bond  to  the  state  of  Wisconsin  in  the  penal  sum  of  one  hun- 
dred thousand  dollars,  with  six  or  more  good  and  sufficienv 
sureties  or  a  surety  company,  conditioned  for  the  faithful  per- 
formance of  his  duties,  which  bond,  when  approved  by  the  gov- 
ernor, shall  be  deposited  with  the  state  treasurer,  and  in  event 
that  the  commissioner  of  insurance  elects  to  give  a  surety  bond 
as  provided  herein,  the  cost  of  the  same  shall  be  borne  by  the 
state  providing  the  same  does  not  exceed  one-fourth  of  one  per 
cent,  per  annum  of  the  amount  of  said  bond.  Said  commis- 
sioner shall  have  an  official  seal,  and  shall  conduct  or  cause  to  be 
conducted  all  examinations  of  the  affairs  of  insurance  corpora- 
tions that  are  or  may  be  required  by  law;  and  generally  shall 
oxercise  such  provision  and  control  over  insurance  companies 
doing  business  in  this  state  as  the  law  may  require.  He  shall 
hold  his  office  in  the  capital  and  be  provided  with  postage,  sta- 
tionery, printing  and  office  supplies,  the  expense  thereof  to  be 
paid  out  of  the  state  treasury.  All  reports  required  to  be  made 
by  any  insurance  corporation  shall  be  made  to  said  commis- 
sioner. 

1967a  (1898;  ch.  503,  1905.) 
Deputy  and  other  assistants. 

Secttion  1967a.  The  commissioner  of  insurance  may  appoint 
a  deputy  who  shall  be  known  as  deputy  commissioner  of  in- 
surance, and  who  shall  take  the  constitutional  oath  of  office 
and  file  it  in  the  office  of  the  secretary  of  state,  and  give  such 
bond  to  the  commissioner  as  he  may  prescribe;  said  commis- 
sioner shall  be  responsible  for  the  acts  and  neglect  of  the  deputy, 
who  shall  have  the  same  power  over  all  matters  connected  with 
the  office  of  the  commissioner  of  insurance  as  the  commissioner 
has  whenever  detailed  by  him  to  do  special  acts  or  in  ease  of 


1968  DEPARTMENT  OP  INSURANCE.  158 

the  sickness  or  absence  of  the  commissioner  from  the  capitol. 
Said  commissioner  may  also  appoint  a  chief  clerk,  an  examiner, 
license  clerk,  filing  clerk,  two  stenographers,  messenger  and  mail- 
ing clerk  and  one  general  clerk.  All  such  appointments  shall 
be  in  writing  and  be  filed  in  the  office  of  the  secretary  of  state. 

See  section  170  for  changes  in  employees  made  by  ch.  64o,  1907. 

1968 

Investigation;  fees;  revocation  of  license. 

Section  1968.  The  commissioner  of  insurance  may  address 
inquiries  to  any  insurance  corporation  doing  business  in  this 
state  or  any  officer  thereof  in  relation  to  its  doings  or  condition 
or  any  other  matter  connected  with  its  transactions;  and  it 
shall  be  the  duty  of  every  corporation  or  officer  so  addressed 
to  promptly  reply  in  writing  to  such  inquiries;  and,  whenever 
he  shall  deem  it  expedient  so  to  do,  or  when  any  responsible 
person  shall  file  with  him  written  charges  against  any  such  cor- 
poration alleging  that  any  return  or  statement  filed  by  it  with 
such  commissioner  is  false  or  that  its  affairs  are  in  an  unsound 
condition,  he  shall,  in  person,  or  by  some  one  to  be  appointed 
by  him  for  that  purpose,  not  an  officer  or  agent  of,  or  in  any 
manner  interested  in,  any  insurance  corporation  doing  business 
in  this  state,  except  as  a  policyholder,  examine  into  its  affairs 
and  condition ;  and  it  shall  be  the  duty  of  the  corporation,  its 
officers  or  agents  to  cause  its  books  to  be  opened  for  inspection, 
and  to  pay  all  reasonable  expense  of  and  compensation  for  such 
examination  upon  the  certificate  and  requ'sition  therefore  of 
said  commissioner;  which  expenses,  however,  shall  not  exceed 
five  dollars  per  day  during  the  time  of  the  examinatioi:  and 
five  cents  per  mile  for  travel'ng  by  the  most  direct  route 
going  to  and  from  the  place  where  such  examination  took 
place;  but  no  corporation  examined  shall,  either  directly  or 
indirectly,  pay  by  way  of  gift,  gratuity  or  otherwise  any  other 
or  further  sum  to  said  commissioner  or  examiner  for  service, 
extra  services,  or  for  purposes  df  legislation  or  any  other  pre- 
tense whatever.  Any  commissi' oner,  examiner,  officer,  clerk, 
or  employee  of  any  insurance  company  violating  any  provisions 
of  this  section  shall  be  guilty  of  a  misdemeanor.  Whenever 
it  shall  appear  to  the  said  commissioner  from  his  own  examina- 
tion or  the  report  of  the  person  appointed  by  him  that  the  con- 
dition of  any  foreign  company  examined  is  in  an  unsound  con- 
dition he  shall  revoke  the  certificate  granted  such  company 
and  cause  a  notification  thereof  to  be  published  in  the  official 
state  paper  and  mail  a  copy  thereof  to  each  agent  of  the  com^ 


159  DEPARTMENT  OP  INSURANCE.  1969 

pany,  and  the  agent  or  agents  thereof,  after  such  notice,  shall 
be  required  to  discontinue  .doing  business  for  such  company. 
The  commissioner  shall  in  like  manner  and  upon  like  conditions 
'ixamine  insurance  corporations  applying  for  admission  to 
transact  business  in  this  state,  and  if  the  affairs  or  condition 
of  any  such  corporation  do  not  fully  meet  the  requirements  of 
.aw  he  shall  withold  his  certificate. 

Section  1968  is  referred  to  in  sections  1917,  1955. 

1969 

Restoration  of  capital;  duty  of  commissioner;  power  of 
company. 

Section  1969.  Any  insurance  corporation  which  shall  have 
been*  directed  to  require  its  capital  to  be  made  good,  as  required 
in  the  preceding  sect'on,  shall  forthwith-  call  upon  its  stock- 
holders for  the  necessary  amount,  and  in  case  any  stockholder 
of  such  corporation  organized  under  the  laws  of  this  state  shall 
refuse  to  pay  the  amount  so  called  for,  after  notice  personally 
given  or  by  advertisement  in  such  time  and  m.anner  as  the  com- 
miss'oner  of  insurance  shall  prescribe,  such  corporation  may  re- 
quire the  return  of  the  original  certificate  of  stock  held  by  him, 
and  in  lieu  thereof  issue  new  certificates  for  such  number  of 
shares  as  the  said  stockholders  may  be  entitled  to  'n  the  propor- 
tion that  the  ascertained  value  of  the  funds  of  such  corpora- 
tion may  be  found  to  bear  to  the  original  capital;  the  value  of 
such  shares  for  which  new  certificates  shall  be  issued  to  be  as- 
'ertained  under  the  direction  of  said  commissioner,  the  corpora- 
tion paying  for  the  fractional  parts  of  shares ;  and  the  directors 
may  create  new  stock  and  dispose  of  the  same  to  an  amount 
sufficient  to  make  up  the  original  capital;  and  in  the  event  of 
any  additional  losses  accruing  from  new  risks  taken  after  the 
expiration  of  the  period  limited  by  said  commissioner  for  the 
filling  up  of  the  deficiency  in  the  capital,  and  before  such  de- 
ficiency shall  have  been  made  up,  the  directors  or  trustees  shall 
be  individually  liable  to  the  extent  thereof.  The  transfer  of 
the  stock  of  any  such  corporation,  made  during  the  pending  of 
such  investigation,  shall  not  release  the  party  making  the  trans- 
fer from  his  liability  for  losses  which  may  have  occurred  prer 
vious  to  such  transfer. 

1970 

Reduction  of  capital. 

Section  1970.  Whenever  it  shall  appear  to  the  commissioner 
of  insurance,  from  an  examination  thereof,  that  the  capital  stock 
of  any  stock  insurance  corporation  organized  under  any  law 


1971  DEPARTMENT  OF  INSURANCE.  160 

of  this  state  is  impaired  to  an  amount  exceeding  twenty-five  per 
cent,  thereof,  and  he  shall  be  of  opinion  that  the  interests  of  the 
public  will  not  be  prejudiced  by  permitting  such  corporation 
to  continue  with  a  reduced  capital,  such  corporation  may,  with 
his  permission,  reduce  its  capital  and  the  par  value  of  the 
•shares  thereof  to  such  amount  as  he  shall  certify  to  be  in  his 
opinion  juptified  by  the  assets  and  property  of  such  corpora- 
tion ;  but  no  part  of  such  assets  and  property  shall  be  distrib- 
uted to  the  stockholders,  nor  shall  the  capital  stock  of  such  cor- 
poration be  reduced  in  any  case  to  an  amount  less  than  the  sum 
required  by  law  for  the  organization  of  a  new  corporation  for 
the  transaction  of  the  same  kind  of  business  at  a  place  where 
such  corporation  is  located.  Such  a  reduction  of  the  capital 
stock  shall  only  be  made  by  adoption  of  a  resolution  by  its  direc- 
tors, approved  and  signed  by  at  least  two-thirds  of  the  directors, 
and  bv  its  president,  with  the  corporate  seal  affixed,  and  filed  in 
the  office  of  the  commissioner  of  insurance.  Upon  the  filing  of 
such  resolution  the  commissioner  of  insurance  shall  execute  a 
new  patent  to  such  corporation  to  conform  with  such  reduced 
capital,  and  the  articles  of  organization  shall  be  deemed  to  be 
amended  accordingly  in  respect  to  the  amount  of  its  capital 
and  of  the  par  value  of  its  shares  ^o  as  to  conform  to  such  re- 
duction. Such  corporation  may  require  the  return  of  the  or- 
iginal certificate  of  stock  held  by  each  stockholder  and  in  lieu 
thereof  issue  new  certificates  of  such  number  of  shares  as  each 
stockholder  may  be  entitled  to. 

1971   (1898:  ch.  192,  1899;  ch.  451,  1905.) 
Annual  report;  forms;  publication. 

Section  1971  The  commissioner  of  insurance  shall  prepare 
and  furnish  to  each  insurance  corporation  organized  under  the 
laws  of  this  state  and  to  the  attorneys  of  corporations  incor- 
porated in  other  states  and  countries,  doing  any  business  of  in- 
surance in  this  state,  printed  forms  of  annual  and  other  state- 
ments as  required  by  law  to  be  made  by  such  corporations,  and 
may  make  such  changes  in  such  forms  as  shall  seem  best  adapted 
to  elicit  from  them  a  true  exhibit  of  their  condition  in  relation 
to  the  matters  required  by  law  to  be  reported  to  him;  and  all 
such  corporations  shall  make  such  statements  as  required  by 
said  commissioner;  and  he  may,  for  such  reasons  as  he  shall  deem 
sufficient,  extend  the  time  for  filing  such  annual  statements,  but 
not  exceeding  sixty  days.  He  shall  cause  the  information  con- 
tained in  such  statements  to  be  arranged  in  tabular  form  and 
publish  the  same  with  his  report.     He  shall  during  the  first 


161  FILING  AND  LICENSE  FEES.  1972 

week  of  the  months  of  January,  April,  July  and  October  of 
each  year  hereafter  cause  to  be  published  in  the  official  state 
paper  and  in  one  other  daily  paper,  which,  in  his  judgment,  will 
give  information  to  the  greatest  number  by  one  insertion  in  each 
such  newspaper,  a  statement  over  his  signature,  containing  the 
names  of  such  insurance  corporations  as  have  complied  with  all 
the  laws  of  this  state,  relating  to  such  corporations  and  are  duly 
licensed  and  authorized  to  transact  business  therein. 

The  total  annual  expense  for  such  publication  shall  not  ex- 
ceed the  sum  of  four  hundred  dollars. 

There  is  hereby  appropriated  for  such  purpose  out  of  any 
moneys  in  the  state  treasury  not  otherwise  appropriated  the 
sum  of  four  hundred  dollars  per  annum. 

Section  1971  is  referred  to  in  section  1978j. 

1972  (1898;  ch.  90,  1905;  ch.  296,  1909,  in  effect  June  7,  1909.) 
Fees;  filing  charter;  agents'  licenses. 

Section  1.  Section  1972  of  the  statutes  is  amended  to  read; 
Section  1972.  1.  Except  as  otherwise  provided  hy  law  there 
shall  be  paid  to  the  state  through  the  commissioner  of  insur- 
ance in  addition  to  the  fees  elsewhere  in  these  statutes  provided 
for,  by  every  insurance  corporation,  person  or  agent  to  whom 
this  chapter  applies,  the  following  fees: 

(a)  For  filing  the  first  declaration  or  statement,  with  certi- 
fied copy  of  charter,  twenty- five  dollars; 

(h)  For  filing  the  annual  statement  of  any  insurance  cor- 
poration, twenty-five  dollars; 

(c)  For  each  certificate  of  authority  issued  *  *  '  *  to  the 
*"  *  *  agent  of  any  company  *  *  *  one  dollar.  A  sep- 
arate certificate  shall  be  required  for  each  company  represented 
by  an  agent  and  for  each  member  of  any  firm;    *     *     * 

(d)  For  every  certified  copy  of  a  paper  filed  in  his  office, 
*     *     *     ten  cents  per  folio;     *     *     * 

(e)  For  certifying  and  affixing  his  seal  to  any  such  copy  or 
any  other  paper,  fifty  cents. 

2.  In  case  two  or  more  coporations  shall  combine  to  effect  in- 
surance under  a  joint  policy  or  policies,  each  and  every  such 
corporation  so  combining  shall  pay  the  fees  above  provided  the 
same  as  if  each  and  every  one  wrote  separate  policies. 

See  section  1219. 
ll-I.  L. 


1972a  DEPARTMENT  OF  INSURANCE.  162 

1972a 

Violation  of  law  by  companies;  notice;  revocation  of  li- 
cense; forfeitures.  Proceedings  if  law  violated;  ex- 
penses. 

Section  1972a.  The  commissioner  of  insurance  shall  bring 
notice  of  the  violation  of  any  of  the  provisions  of  this  chapter 
by  insurance  companies  to  the  notice  of  any  company  which 
shall  have  committed  the  same ;  and  in  case  of  persistent  viola- 
tion thereof  by  any  company  he  shall,  if  the  company  be  in- 
corporated under  the  laws  of  this  state,  report  the  same  to 
the  attorney-general;  and  if  it  be  incorporated  under  the  laws 
of  any  other  state  or  country  he  shall  revoke  its  authority  to 
do  business  in  this  state ;  and  upon  saisfaetory  evidence  to  him 
of  the  violation  of  any  of  such  provisions  by  any  agent  of  any 
such  corporation  he  shall  revoke  the  license  of  such  agent. 
Said  commissioner  shall  also  bring  or  cause  actions  to  be 
brought  to  recover  all  forfeitures  imposed  by  these  statutes 
for  a  violation  of  any  of  their  provisions  by  insurance  com- 
panies or  their  agents;  and  all  necessary  expenses  incurred 
by  him  in  such  actions,  and  in  representing  this  state  at  the 
annual  meeting  of  the  national  convention  of  the  insurance 
commissioners  of  the  several  states  shall,  on  his  certificate 
that  the  expenses  incurred  were  actually  necessary,  be  audited 
by  the  secretary  of  state.  It  shall  be  the  duty  of  the  attorney- 
general  to  prosecute  in  the  name  of  the  state  or  to  compromise 
everv  such  forfeiture ;  and  his  necessary  expenses  incurred  in 
so  doing,  when  so  certified,  shall  be  audited  as  aforesaid.  All 
forfeitures  collected  in  such  actions  shall  be  paid  to  tlie  state 
treasurer  for  the  benefit  of  the  general  fund. 

1972b  (1898;  ch.  233,  1901;  ch.  212,  1905.) 
Commissioner's  report;  contents. 

Section  1972b.  The  commissioner  of  insurance  shall  keep 
and  preserve  in  a  permanent  form  a  full  record  of  his  pro- 
ceedings, including  a  concise  statement  of  the  condition  of 
each  insurance  company  reported,  visited  or  examined  by 
him ;  and  shall,  annually,  at  the  earliest  practicable  date  make 
a  report  to  the  governor  of  the  general  conduct  and  condi- 
tion of  all  such  companies  doing  business  in  this  state,  ar- 
ranged in  tabular  form  or  in  abstracts,  in  classes,  according 
to  the  different  kinds  of  insurance,  which  report  shall  also 
contain : 

1.  A  statement  of  all  insurance  companies  authorized  to  do 
business  in  this  state  during  the  year  ending  the  thirty-first 


163  DEPARTMENT  OF  INSURANCE.  1972c 

day  of  December  next  preceding,  with  their  names,  locations, 
amounts  of  capital,  dates  of  incorporation  and  of  the  com- 
mencement of  business,  and  kinds  of  insurance  in  which  they 
are  engaged  respectively. 

2.  A  statement  of  such  companies  as  have  ceased  to  do  busi- 
ness in  this  state  during  such  year  and  the  reasons  for  the 
same ;  also  a  statement  of  those  admitted  during  the  year  and 
of  those  refused  admission,  and  the  reasons  therefor. 

3.  Any  amendments  to  the  statutes  relating  to  insurance 
which  in  his  judgment  may  be  desirable,  and  such  other  infor- 
mation and  comments  in  relation  to  insurance  and  the  public 
interest  therein  as  he  deems  fit. 

4.  The  names  and  compensation  of  the  persons  employed  by 
him,  the  whole  amount  of  the  expenses  of  his  department,  the 
amount  of  taxes  and  fees  paid  by  each  corporation  and  the 
amount  and  date  of  payment  of  the  same  to  the  state  treasurer. 
There  shall  be  printed  and  in  readiness  for  distribution,  two 
thousand  copies  of  the  fire  and  marine  report,  two  thousand 
five  hundred  copies  of  the  life,  casualty  and  surety  report  and 
two  thousand  five  hundred  copies  of  the  local  mutual  report 
for  the  use  of  the  governor,  legislature  and  department  of  in- 
surance. 

1972c 

Payments;  monthly  report;  examination  of  books. 

Section  1972c.  The  commissioner  of  insurance  shall  make 
daily  payments  to  the  state  treasurer  of  all  fees  and  taxes 
received  and  shall,  on  the  first  day  of  each  month,  report  in 
detail  the  receipts  of  his  department  during  the  preceding 
month  to  the  governor,  secretary  of  state  and  state  treasurer, 
together  with  the  dates  of  such  payments  to  the  treasurer; 
and  it  shall  be  the  duty  of  the  governor,  secretary  of  state 
and  state  treasurer  to  quarterly  examine  and  audit  the  books 
and  records  of  the  department  of  insurance. 

1973 

Deposit  with  state  treasurer;  certificate;  exchange  with- 
drawal. 

Section  1973.  The  state  treasurer,  in  his  official  capacity, 
shall  take  and  hold  on  deposit  the  securities  of  any  life  in- 
surance corporation  incorporated  under  the  laws  of  this  state 
which  are  deposited  by  it  for  the  purpose  of  securing  policy- 
holders and  complying  with  the  laws  of  any  other  state  in 
order  to  enable  such  corporation  to  transact  business  in  such 


1974  NON-PAYMENT  OF  JUDGMENT.  164 

state,  and  also  to  receive  and  hold  in  trust  for  the  policy 
holders  of  any  other  insurance  corporation  of  this  state  such 
bonds,  stocks  or  other  securities  as  may  be  offered  by  such 
corporation;  and  upon  the  application  of  such  corporation  to 
give  such  a  certificate  from  year  to  year  of  such  deposit  as 
may  be  required  by  the  laws  of  other  states  in  order  to  the 
transaction  of  the  business  of  insurance  therein;  every  cor- 
poration depositing  such  securities  shall  have  the  right  to 
receive  the  income  thereof  and  to  exchange  the  same  from 
time  to  time,  according  to  the  laws  of  the  state  in  which  it 
may  be  doing  business,  and  to  withdraw  the  same  when  it  no 
longer  desires  to  maintain  such  deposit. 

1974  (1898;  ch.  167,  1905.) 
Non-payment  of  judgment. 

Section  1974.  No  insurance  corporation  or  mutual  benefit 
corporation,  society  order  or  association  doing  any  kind  of 
insurance  in  this  state  against  which  a  final  judgment  on  ac- 
count of  its  liability  as  an  insurer  or  as  such  other  corporation 
shall  have  been  recovered  in  any  court  therein  shall,  after 
sixty  days  from  the  rendition  of  such  judgment  and  whilst 
the  same  remains  unpaid,  issue  any  new  policy  or  certificate 
of  insurance  in  this  state ;  and  in  case  any  such  insurance  or 
other  corporation  or  its  officers  shall  violate  the  provisions  of 
this  section  it  shall  forfeit  one  thousand  dollars.  And  any 
aerent  of  any  such  corporation  who  shall  knowingly  so  violate 
the  same  shall  forfeit  not  less  than  one  hundred  nor  more 
than  five  hundred  dollars:  provided,  that  if  an  appeal  is  taken 
said  sixty  days  shall  not  begin  to  run  until  after  said  judg- 
ment has  been  affirmed  and  the  decision  upon  the  appeal  re- 
mitted. And  in  case  any  order  or  judgment  appealed  from 
shall  be  affirmed  in  any  action  or  judicial  proceeding,  in  which 
any  suretv  corporation,  company  or  association  authorized  to 
issue  bonds  or  undertakings  in  any  such  action  or  proceeding 
shall  have  executed  or  issued  any  such  bond  or  undertaking  as 
a  condition  of  a  stay  of  proceedings  upon  such  order  or  judg- 
ment so  affirmed,  or  to  guarantee  the  payment  or  perform- 
ance thereof,  if  such  surety  company  shall  not,  within  thirty 
days  after  notice  of  the  filing  of  the  remittitur,  fully  perform 
its  undertaking  in  respect  thereto,  it  shall  forfeit  its  right  or 
license  to  transact  such  business  in  this  state  until  such  order 
or  judgment  shall  have  been  fully  paid,  performed  or  com- 
plied with  in  accordance  with  the  terms  and  conditions  of 
such  undertaking. 


165  AGENTS'  LICENSES.  1975 

1976 

Conditions  as  to  actions  void. 
Section  1975.  No  such  corporation  as  is  mentioned  in  the 
preceding  section  and  no  underwriter  or  agent  shall  incorpor- 
ate in  any  contract,  mortgage,  note,  bond,  obligation,  policy  or 
certificate  ot*  insurance  any  condition  or  provision  prescribing 
in  what  court  any  action  may  be  brought  thereon  or  that  no 
action  or  suit  shall  be  brought  thereon,  or  brought  in  any  of 
the  courts  of  this  state,  and  all  and  every  such  condition  and 
provision,  if  so  incorporated,  shall  be  null  and  voidj  and  any 
renewal  of  any  policy  or  certiticate  of  insurance  containing  any 
such  provision  or  condition  shall  not  be  a  renewal  of  such  con- 
dition or  provision  therein,  but  shall  be  deemed  a  renewal 
thereof  without  such  condition  and  provision.  A  violation  of 
this  sectioil  shall  be  cause  of  forfeiture  of  any  license  to  do  busi- 
ness in  the  state. 

1976  (1898;  ch.  38,  1905  j  ch.  501,  1907  j  ch.  116,  1909;  ch.  290, 
1909,  effective  July  1,  1909.) 
Agents'  licenses;  certificate  of  authority. 

Section  1976.  1.  No  person,  officer,  or  broker,  agent  or  sub- 
agent  of  any  insurance  corporation  of  any  kind  required  to 
pay  *  *  *  any  tax  or  licenise  fee  to  the  state  shall  act  or  aid 
in  any  manner  in  transacting  the  business  of  or  with  such  cor- 
poration in  placing  risks  or  in  collecting  any  premiums  or  as- 
sessments or  affecting  insurance  therein,  without  first  procuring 
from  the  insurance  corporation  a  certificate  of  authority;  nor 
shall  any  such  person,  officer,  broker,  agent,  or  sub-agent,  after 
such  certificate  shall  have  expired,  or  after  revocation  by  the 
commissioner  of  insurance  of  such  certificate  or  of  the  license  of 
such  corporation  and  until  a  new  certificate  or  license  shall  have 
been  issued  to  him,  do  or  perform  any  such  act  for  or  in  behalf 
of  any  insurance  corporation. 

1976  (2)    (1898;  ch.  38,  1905;  ch.  501,  1907;  ch.  116,  1909,  ef- 
fective July  1,  1909.) 
Issue  by  company;  return  to  commissioner. 

2.  No  such  certificate  shall  he  issued  by  any  other  than  the  of- 
ficers or  resident  agent  of  such  corporation  signing  the  policies 
of  insurance  issued  hy  it  or  a  person  duly  authorized  thereto  in 
writing  hy  such  officers  or  resident  agent,  after  a  copy  of  such 
authority  has  heen  filed  in  the  office  of  the  commissioner  of  in- 
surance; nor  unless  the  same  shall  he  in  such  form  as  prescribed 
by  the  commissioner  of  insurance  and  numbered  consecutively 
as  issued  by  the  person  authorized  thereto,  and  a  statement  or 


1977  AGENTS.  166 

statements  of  the  names  and  residences  of  all  persons  to  whom 
such  certificates  are  issued  on  any  day,  in  such  form  as  pre- 
scribed by  the  commissioner,  together  with  the  fees  provided  for 
certificates  to  agents  by  section  1972,  shall  be  mailed  to  sadd 
commissioner  07i  the  dxiy  such  certificates  are  issued. 

AgeMs'  licenses,  existing  not  affected. 

3.  All  certificates  of  authority  heretofore  issued  under  this 
section  shall  remain  in  force  until  the  time  of  their  expiration 
or 'revocation  as  heretofore  provided  by  law,  and  all  certificates 
hereafter  issued  shall  expire  annually  upon  the  expiration  of 
the  licence  of  the  company  issuing  the  same,  unless  previously 
revoked,  pursuant  to  law. 

Penalty;  forfeiture. 

*  *  *  4.  *  *  *  Any  person  violating  the  provisions 
of  this  section  shall  be  *  *  *  punished  by  a  fine  of  not 
#  ^  *  niore  than  five  hundred  dollars  for  each  offense.  Any 
company  violating  subsection  2  of  this  section  shall  pay  five 
times  the  amount  of  fees  upon  each  license  included  in  such 
violation. 

1977  (1898;  ch.  353,  1905.) 

Agents,  who  are;  exception. 
Section  1977.  Every  person  or  member  of  a  firm  or  cor- 
poration who  solicits  insurance  on  behalf  of  any  insurance 
corporation  or  person  desiring  insurance  of  any  kind,  or 
transmits  an  application  for  a  policy  of  insurance,  other  than 
for  himself,  to  or  from  any  such  corporation,  or  who  makes 
any  contract  for  insurance,  or  collects  any  premium  for  in- 
surance, or  in  any  manner  aids  or  assists  in  doing  either,  or 
in  transacting  any  business  of  like  nature  for  any  insurance 
corporation,  or  advertises  to  do  any  such  thing,  shall  be  held 
to  be  an  agent  of  such  corporation  to  all  intents  and  purposes, 
unless  it  can  be  shown  that  he  receives  no  compensation  for 
such  services.  This  section  shall  not  apply  to  agents  of  li- 
censed fraternal  beneficiary  societies,  or  mutual  fire  insur- 
ance companies  of  this  state  except  those  organized  under 
sections  1896,  1897  and  1898. 

1978 

Insurers  to  comply  with  law. 

Section  1978.  No  corporation,  association,  partnership  or 
individual  shall  do  any  business  of  insurance  of  any  kind,  or 
make  any  guaranty,  contract  or  pledge  for  the  payment  of 


167  STATE  INSURANCE  FUND.  1978a 

annuities  or  endowments  or  money  to  the  families  or  repre- 
sentatives of  any  policy  or  certificate  holder,  or  the  like,  in 
this  state  or  with  any  resident  of  this  state  except  according 
to  the  conditions  and  restrictions  of  these  statutes.  And  the 
term  insurance  corporations  as  used  in  this  chapter  may  be 
taken  to  embrace  every  corporation,  association,  partnership 
or  individual  engaging  in  any  such  business. 


STATE  INSURANCE  FOR  PUBLIC  BUILDINGS. 

1978a  (Sec.  1,  ch.  68,  1903.) 

No  insurance  for  state  buildings. 
Section  1978a.  On  and  after  July  1st,  1903,  no  officer  or 
agent  of  this  state  and  no  person  or  persons  having  charge  of 
any  public  buildings  or  property  of  the  state  shall  pay  out  any 
public  moneys  or  funds  on  account  of  any  insurance  against 
loss  by  fire  or  tornado,  or  shall  in  any  manner  contract  for  or 
incur  any  indebtedness  against  the  state  on  account  of  any 
such  insurance  upon  any  of  the  public  buildings,  furniture,  fix- 
tures or  property  of  any  kind  whatever  belonging  to  the  state 
except  in  the  manner  hereinafter  provided. 

1978b  (Sec.  2,  ch.  68,  1903.) 

State  insurance  fund ;  risks ;  credits  to ;  duties  of  com- 
mission. 

Section  1978b.  Within  thirty  days  after  the  passage  and 
publication  of  this  act  each  officer,  board  of  control,  board  of 
regents,  agent  or  agency  of  the  state  of  any  kind,  having  in 
charge  any  public  buildings  or  property  of  any  kind  whatso- 
ever belonging  to  the  state  shall  report  to  the  commissioner 
of  insurance  of  the  state  each  policy  of  insurance  which  shall 
be  then  in  force  upon  any  property  of  any  kind  belonging  to 
the  state,  showing  in  said  report  the  property  covered  by  such 
insurance,  date  of  expiration  of  policy,  rate  of  insurance  and 
amount  paid.  Upon  July  1st,  1903,  and  annually  thereafter, 
the  commissioner  of  insurance  of  the  state  shall  provide  for  the 
.insurance  by  the  state  of  all  state  property  for  an  amount  equal 
to  ninety  per  cent,  of  the  cash  value  of  such  property  in  the 
following  manner:  First,  he  shall  determine  the  insurable 
value  of  each  item  of  property  and  shall  fix  the  rate  of  in- 
surance which  in  his  opinion  is  the  average  rate  charged  by 
responsible  fire  and  tornado  insurance  companies  doing  busi- 
ness in  this  state  and  issuing  insurance  policies  upon  property 


1978c  STATE  INSURANCE  FUND.  168 

of  similar  kind  and  exposed  to  risk  of  fire  or  tornado  in  like 
manner.  He  shall  then  ascertain  the  amount  of  insurance  in 
force  upon  all  state  property  and  provide  for  such  additional  J 
insurance  as  is  necessary  to  cover  said  ninety  per  cent,  of  the  I 
full  value  of  the  property  in  the  following  manner ;  He  shall 
certify  to  the  state  treasurer  the  amount  of  insurance  upon 
such  property  to  be  carried  by  the  state  and  order  the  state 
treasurer  to  credit  to  an  account  which  shall  be  kept  by  the 
treasurer  and  known  as  the  "state  insurance  fund"  an  amount 
tquol  to  sixty  per  cent,  of  the  premium  as  fixed  by  the  com- 
missioner of  insurance,  and  the  amount  so  credited  by  the 
rftate  treasurer  to  the  "state  insurance  fund"  shall  be  debited 
by  the  state  treasurer  to  that  account  which  shall  be  kept  upon 
his  books  with  the  proper  officer,  agent  or  board  of  trustees 
or  regents  which  may  have  such  public  buildings  and  property 
in  its  charge,  and  the  amount  so  debited  by  the  state  treas- 
urer to  said  officer,  agent  or  board  shall  be  deducted  by  him 
from  any  funds  which  may  be  in  his  hands,  or  which  may 
thereafter  come  into  his  hands  and  payable  to  said  officer, 
agent  or  board  of  trustees  or  regents  for  the  care  and  mainte- 
nance of  such  public  buildings  or  property.  The  state  com- 
missioner of  insurance  shall  not.  cause  any  policies  to  be  can- 
celled which  may  be  in  effect  on  July  1st,  1903,  but  shall  pro- 
vide for  the  insurance  of  buildings  and  property  as  herein- 
before stated,  increasing  the  amount  of  state  insurance  at  such 
times  as  the  policies  existing  on  July  1st,  1903,  may  from  time 
to  time,  expire,  so  as  to  maintain  at  all  times  full  insurance 
at  ninety  per  cent,  of  full  value. 

1978c  (Ch.  113,  1909,  in  effect  May  13,  1909.) 

Loss;  commissioner  to  adjust;  transfer  of  funds. 

Section  1978c.  1.  In  case  any  buildings  or  property  of  the 
state  shall  be  damaged  by  fire  or  tornado,  the  commissioner  of 
insurance  shall  within  thirty  days  ascertain  and  fix  the  amount 
of  such  damage  and  forthwith  file  with  the  state  treasurer  and 
the  secretary  of  state  a  statement  of  the  same.     *     *     *. 

2.  When  the  amount  of  loss  has  been  fixed  and  determined 
by  the  commissioner  of  insurance  and  certified  to  the  secretary 
of  state,  the  secretary  of  state  shall  issue  a  warrant  in  the  amount 
fixed  by  the  insurance  commissioner  as  a  transfer  of  the  amount 
fixed  as  damages  from  the  "state  insurance  fund"  and  credited 
to  the  proper  fund  of  the  officer,  board  of  control,  board  of 
trustees,  or  other  agents  in  whose  control  said  buildings  or 
property  belongs,  to  be  used  by  said  officer,  board,  or  agent  for 


169  LLOYDS'  MARINE  INSURANCE.  1978d 

the  rebuilding  or  restoring  of  the  property  damaged  and  to  be 
disbursed  by  the  state  treasurer  in  such  manner  as  other  state 
funds  for  the  use  of  said  officer,  board,  or  agent  are  paid  out, 
and  if  at  the  time  of  any  such  award  of  loss  or  damage  by  the 
commissioner  of  insurance,  there  shall  not  be  in  the  "state  in- 
surance fund"  a  namount  equal  to  such  award,  *  *  * 
the  secretary  of  state  shall,  notwithstanding  this  fact,  draw  his 
warrant  payable  from  the  general  fund,  and  the  state  treasurer 
shall  promptly  pay  such  warrant  out  of  any  moneys  in  his  hands 
in  the  manner  above  provided. 

1978d  (Sec.  4,  ch.  68,  1903.) 
Duplicate  copies  to  be  filed. 

Section  1978d.  A  duplicate  copy  of  all  reports  and  state- 
ments required  herein  of  the  commissioner  of  insurance  and  of 
each  officer,  board  or  agent  in  each  section  of  this  act,  shall  be 
filed  with  the  secretary  of  state  by  each  such  officer,  board  or 
agent. 

1978e  (Sec.  5,  ch.  68,  1903.) 
Appropriation. 

Section  1978e.  There  is  hereby  appropriated  out  of  any 
moneys  in  the  state  treasury  not  otherwise  appropriated  a  sum 
sufficient  to  carry  out  the  requirements  of  this  act. 


LLOYDS'  MARINE  INSURANCE. 

1978f  (Ch.  249,  1901.) 

Organization;  members;  risks. 

Section  1978f.  Any  number  of  persons  not  less  than  twenty- 
five,  a  majority  of  whom  s'hall  at  all  times  be  citizens  of  this 
state,  may  transact  the  business  of  marine  insurance,  and  in- 
surance of  marine  property  against  loss  or  damage  by  fire,  upon 
the  Lloyds'  principle,  under  such  name  as  they  may  adopt, 
and  upon  compliance  with  the  requirements  of  this  act. 

1978g  (Ch.  249,  1901.) 

Attorney  to  transact  business;  reserve  fund. 

Section  1978fir.  For  the  convenient  transaction  of  business 
and  the  speedy  payment  of  losses  incurred  therein,  they  shall 
in  writing  appoint  an  attorney  or.  attorneys  to  act  for  them 
in  the  transaction  of  their  said  business,  and  may  pay  in  and 
accumulate  a  fund  for  the  payment  of  losses  and  the  expenses 
of  their  said  business ;  and  before  they  shall  transact  any  busi- 


1978h  LLOYDS'  MARINE  INSURANCE.  170 

ness  of  insurance  in  this  state  there  shall,  be  paid  to  the  said 
attorney  or  attorneys  so  appointed  a  sum  of  money  not  less 
than  five  hundred  dollars  by  each  of  the  persons  mentioned  in 
section  one,  which  sum  shall  be  held  by  said  attorney  or  at- 
torneys and  shall  be  used  as  a  reserve  fund  for  the  payment 
of  losses  and  the  expenses  of  their  said  business. 

1978h  (Ch.  249,  1901.) 

Office;  list  of  underwriters. 

Section  1978h.  They  shall  also  maintain  an  office  in  some 
city  within  this  state  where  their  said  attorney  or  attorneys  shall 
transact  the  said  business,  and  before  the  transaction  of  any 
business  in  this  state  they  shall  file  with  the  commissioner  of 
insurance  a  list  of  the  underwriters  joining  in  such  insurance, 
which  list  shall  be  certified  to  by  the  said  attorney  or  attorneys 
provided  for  in  section  two  as  a  true,  full  and  correct  list  therof ; 
and  said  attorney  or  attorneys  so  appointed  shall  also  from  time 
to  time  certify  to  the  commissioner  of  insurance  any  change  or 
substitution  in  such  list  of  underwriters. 

1978i  (Ch.  249,  1901.) 

Attorney  for  service  of  process. 

Section  1978i.  They  shall  also  appoint  by  writing  to  be  filed 
with  the  commissioner  of  insurance,  an  attorney  or  attorneys 
resident  in  this  state,  on  whom  all  process  or  papers  concern- 
ing or  growing  out  of  said  business  may  be  served;  and  such 
service  on  such  attorney  or  attorneys  or  either  of  them,  shall 
be  equivalent  to  service  on  each  of  said  persons  so  transacting 
and  effecting  marine  insurance. 

19781   rCh.  249,  1901.) 

License  fee;  amount;  payment;  examination. 

Section  1978 j.  It  shall  be  the  duty  of  the  attorney  or 
attorneys  appointed  under  the  provisions  of  section  two  of  this 
act  and  on  or  before  the  first  day  of  February  of  each  year 
while  engaged  in  said  business  in  this  state,  to  pay  to  the  com- 
missioner of  insurance  as  a  licen^se  fee  for  the  transaction  of 
such  business  in  this  state  for  the  ensuing  year  a  sum  equal  to 
two  per  centum  of  the  gross  amount  of  premiums  received  dur- 
ing the  preceding  calendar  year,  and  also  the  fees  provided 
for  by  section  1971  of  the  statutes  of  1898  as  amended  and  the 
fees  provided  for  by  section  1972  of  the  statutes  of  1898,  and 
the  payment  of  said  two  per  centum  and  such  fees  shall  be  iu 
lieu  of  all  taxes,  fees  or  charges  against  said  persons  or  either 
of  them,  or  their  said  attorney  or  attorneys,  or  against  their 


171  LLOYDS'  MARINE  INSURANCE.  1978k 

property  or  the  property  of  either  of  them  for  the  transaction 
of  said  business  during  the  year  for  which  payment  is  made. 
It  shall  also  be  the  duty  of  the  said  attorney  or  attorneys  to 
permit  the  commissioner  of  insurance,  at  any  and  all  proper 
and  convenient  times,  to  examine  the  books  of  said  attorney  or 
attorneys,  showing  the  transaction  of  their  said  business,  in 
order  to  verify  the  amount  of  premiums  paid  in  and  to  deter- 
mine the  amount  of  license  fee  to  be  paid,  as  herein  provided ; 
and  the  said  commissioner  of  insurance  shall  have  the  right,  and 
the  said  attorney  or  attorneys  shall  permit  him,  to  have  access 
to  said  books  for  such  purpose  at  any  and  all  reasonable  and 
convenient  times. 

1978k  (Ch.  249,  1901.) 

Liability  of  underwriters. 
Section  1978k.  Each  person  who  shall  join  in  effecting  such 
insurance  mentioned  in  section  one  of  this  act  shall  be  severally, 
but  not  jointly,  liable  upon  each  contract  of  insurance  entered 
into  by  said  persons  by  their  attorney  or  attorneys,  for  his  pro- 
portionate share  of  the  amount  of  indemnity  specified  as  to  him 
in  said  contract  of  insurance,  and  for  no  greater  sum  in  any 
event,  and  he  shall  not  be  liable  otherwise  in  any  manner  or  to 
any  extent. 

19781  (Ch.  249,  1901.) 
Issue  of  license. 
Section  19781.  Upon  compliance  with  the  requirements  of 
this  act,  the  insurance  commissioner  shall  issue  and  deliver  to 
the  said  attorney  or  attorneys  appointed  under  section  two  of 
this  act  a  license  in  the  usual  form,  authorizing  the  said  per- 
sons and  their  said  attorney  or  attorneys  to  transact  the  busi- 
ness authorized  by  said  act  until  the  first  day  of  February 
next  following  the  issuing  of  said  license. 

1978m  (Ch.  249,  1901.) 
Revocation  of  license. 

Section  1978m.  In  case  of  the  failure  on  the  part  of  such 
persons  herein  mentioned,  their  attorney  or  attorneys,  to  fully 
and  promptly  comply  with  any  of  the  provisions  of  this  act,  or 
the  provisions  of  any  of  the  sections  of  the  statutes  of  1898 
herein  mentioned,  it  shall  be  the  duty  of  the  commissioner  of 
insurance  forthwith  to  revoke  the  license  of  such  persons,  their 
attorney  or  attorneys,  and  take  proper  proceedings  to  wind  up 
the  affairs  of  such  persons,  their  attorney  or  attorneys. 


1978X  BENEBICIARIES.  172 

1978X  (Ch.  234,  1909,  in  effect  June  2,  1909.) 

Insurance  companies;  funeral  benefit;  payments. 

Section  1978x.  All  corporations,  associations,  partnerships, 
or  individuals  organized  and  engaged  for  profit  in  the  busi- 
ness of  providing  for  the  payment  of  funeral,  burial,  or  other 
expenses  of  deceased  members,  or  to  holders  of  benefit  certi- 
ficates therein,  shall  be  held  to  be  doing  an  insurance  busi- 
ness under  the  provisions  of  section  1978  of  the  statutes. 

Benefit  certificates  issued  by  any  such  corporation,  associa- 
tion, partnership  or  individual  shall,  within  thirty  days  after 
maturity  of  such  certificate,  be  payable  to  the  surviving  hus- 
band or  wife,  if  living;  if  not,  then  to  any  child  of  suitable 
age,  or  to  the  personal  representatives  of  said  deceased  per- 
son, in  cash  only. 


LIFE  INSURANCE  FOR  BENEFIT  OF  MARRIED  WOMEN. 

2347 

Insurance  by  married  womaa  of  husband,  son,  or  other 
person;  rights  of  creditors. 

Section  2347.  Any  married  woman  may,  in  her  own  name 
or  in  the  name  of  a  third  person  as  her  trustee,  with  his  assent 
cause  to  be  insured  for  her  sole  use  the  life  of  her  husband, 
son  or  other  person  for  any  definite  period  or  for  the  natural 
life  of  such  person;  and  any  person,  whether  her  husband  or 
not,  effecting  any  insurance  on  his  own  life  or  on  the  life  of 
another  may  cause  the  same  to  be  made  payable  or  assign  the 
policy  to  a  married  woman  or  to  any  person  in  trust  for  her  or 
her  benefit,  and  every  such  policy,  when  expressed  to  be  for 
the  benefit  of  or  assigned  or  made  payable  to  any  married 
woman  or  any  such  trustee,  shall  be  the  sole  and  separate  prop- 
erty of  such  married  woman  and  shall  insure  to  her  separate 
use  and  benefit  and  that  of  her  children,  and  in  case  of  her 
surviving  the  period  or  term  of  such  policy  the  amount  of  the  in- 
surance shall  be  payable  to  her  or  her  trustee  for  her  own  use 
and  benefit,  free  from  the  control,  disposition  or  claims  of 
her  husband  and  of  the  person  effecting  or  assigning  such  in- 
surance and  from  the  claims  of  their  respective  representatives 
and  creditors.  But  if  the  annual  premium  on  any  such  policy 
shall  exceed  the  sum  of  one  hundred  and  fifty  dollars  and  is 
paid  by  any  person  with  intent  to  defraud  his  creditors  an 
amount  equal  to  the  premiums  so  paid  in  excess  of  said  sum, 
with,  interest  thereon,  shall  insure  to  the  benefit  of  such  credit- 
ors, subject,  however,  to  the  statute  of  limitations.     The  amount 


173  ACTIONS.  2347b 

of  any  such  insurance  may  be  made  payable  in  case  of  the  death 
of  such  married  woman  before  the  period  at  which  it  comes 
due,  to  her  children  or  to  their  guardian  for  their  use,  if  under 
age,  or  to  any  other  person  as  shall  be  provided  in  the  policy. 
In  such  case  the  receipt  of  such  married  woman  or  of  such  chil- 
dren, or  of  their  guardian  if  minors,  shall  discharge  the  insur- 
ance corporation  from  all  further  liability  therefor.  The  pro- 
visions of  this  section  shall  apply  to  all  insurance  on  lives  ef- 
fected before  the  passage  of  these  statutes. 

Section  2347  is  referred  to  in  section  2918-19. 

2347b  (Ch.  15,  1903.) 

Married  woman  may  assign  policy;  consent  of  person  ef- 
fecting insurance. 

Section  2347b.  Any  married  woman  may,  with  the  written 
consent  of  the  person  effecting  the  insurance,  assign,  encumber 
or  dispose  of  any  right,  title  or  interest  she  may  have  in,  to  or 
under  any  policy  of  life  insurance,  whether  on  the  life  of  her- 
self or  of  her  husband,  or  of  any  other  person,  and  whether 
such  policy  be  expressed  to  be  for  the  benefit  of  or  assigned  or 
made  payable  to  such  married  woman,  or  any  trustee  for  her, 
in  the  same  manner  and  with  like  effect  as  if  she  were  unmar- 
ried. 

The  provisions  of  this  act  shall  apply  to  all  insurance  on  lives, 
whether  effected  before  or  after  the  passage  of  this  act,  but 
shall  not  apply  to  assignments  thereof  heretofore  made. 

ACTIONS  AGAINST  INSURANCE  COMPANIES. 

2609a 

Joinder  as  defendants. 

Section  2609a.  In  actions  upon  a  policy  or  policies  insur- 
ing property  against  loss  or  damage  by  fire,  lightning,  hail, 
cyclone  or  other  casualty,  the  plaintiff  may  join  as  parties  de- 
fendant any  or  all  the  insurance  companies  liable  for  the  loss  or 
any  part  thereof,  and  all  the  issues  shall  be  tried  at  the  same 
time  and  by  the  same  jury  or  by  the  court,  if  the  action  is  tri- 
able thereby,  and  the  verdict  or  finding  shall  fix  the  amount  for 
which  each  defendant  is  liable;  or  the  court  may,  in  its  discre- 
tion, direct  the  jury  to  return  successive  verdicts,  or  make  sep- 
arate findings,  so  that  all  issues  may  be  determined  at  the  same 
trial.  If  the  trial  is  by  a  jury  the  court  may  instruct  the  jury 
upon  one  or  more  of  the  issues,  and,  after  verdict  thereon,  in- 
struct upon  other  issues  until  they  are  all  disposed  of.     If  the 


2637  ACTIONS.  174 

issues  are  found  in  favor  of  the  plaintiff  and  he  is  entitled  to 
judgment  on  the  verdict  or  findings  a  separate  judgment  shall 
be  rendered  against  each  defendant  for  the  sum  for  which  it 
is  found  to  be  liable,  together  with  the  proportion  of  the  costs 
for  which  it  is  liable,  which  proportion  shall  bear  the  same 
ratio  to  the  whole  amount  of  the  costs  as  the  amount  of  its  lia- 
bility bears  to  the  total  sum  recovered  by  the  plaintiff  from  all 
the  defendants,  and  in  addit  on  to  such  costs  its  proportion  oi; 
the  necessary  disbursements  made  by  the  plaintiff*,  calculated 
on  the  same  basis. 

2637  (9)  (10)  (11)    (1898;  ch.  190,  1903.) 

Process;  service  on  insurance  corporations. 

Section  2637.  Actions  against  corporations  shall  be  com- 
menced in  the  same  manner  as  personal  actions  against  natural 
persons.  The  summons  and  the  accompanying  complaint  or  no- 
tice aforesaid  shall  be  served,  and  such  service  held  of  the  same 
effect  as  personal  service  on  a  natural  person,  by  delivering  a 
copy  thereof  as  follows: 

9.  If  against  any  insurance  corporation  not  organized  under 
the  laws  of  this  state,  to  the  agent  or  attorney  thereof  having 
authority  therefor  by  appointment  under  the  provisions  of  sec- 
tion 1915,  1953,  or  1966 — 32,  or  to  any  agent  of  either  such  cor- 
poration who  shall  solicit  insurance  on  its  behalf  or  on  behalf 
of  any  property  owner  or  person  desiring  insurance,  or  who 
transmits  an  application  for  or  a  policy  of  insurance  to  or  from 
any  such  corporation,  makes  any  contract  for  insurance,  col- 
lects or  receives  any  premium  therefor,  or  adjusts,  settles  or 
pays  a  loss  for  such  corporation  or  aids  or  assists  in  doing 
either  or  in  transacting  any  business  for  the  same,  or  on  any 
person  who  advertises  to  do  any  such  thing. 

2637  (1898;  ch.  190,  1903;  ch.  451,  1909,  in  effect  July  1,  1909.) 
Service  on  corporations. 

10.  If  against  any  other  corporation  organized  under  the  laws 
of  this  state,  to  the  president,  or  other  such  chief  officer,  vice- 
president,  secretary,  cashier,  treasurer,  director,  or  managing 
agent. 

Provided,  however,  that  whenever  any  such  corporation  does 
not  have  any  officer  or  agent  within  this  state  upon  whom  legal 
service  of  process  can  be  made,  of  which  the  return  of  the  sheriff 
shall  be  prima  facie  evidence,  service  of  the  summons  and  ac- 
companying complaint  may  be  made  by  depositing  duplicate 
copies  thereof  in  the  office  of  the  secretary  of  state,  one  of  which 
copies  shall  be  filed  in  the  office  of  said  secretary  of  state,  and 


175  ACTIONS.  2982 

the  other  by  him  immediately  mailed,  postage  prepaid,  ad- 
dressed to  said  company  at  its  office  des"gnated  in  its  articles  of 
incorporation  on  file  in  the  office  of  the  said  secretary  of  state, 
and  such  service  shall  he  *  *  *  deemed  and  treated  as  per- 
sonal service  on  such  corporation. 

11.  If  against  any  corporation  or  association  having  an  aid 
or  benefit  department  under  its  control  or  in  connection  there- 
with, not  organized  under  the  laws  of  this  state  and  doing  busi- 
ness here'n,  either  as  such  corporation  or  association  or  by 
means  or  in  the  form  of  a  local  or  subordinate  aid  or  benefit 
association,  or  of  subordinate  branches,  lodges,  or  divisions,  and 
which  has  failed  to  appont  an  agent  or  attorney  in  compliance 
with  section  1953,  to  any  officer  of  any  such  local  or  subordinate 
aid  or  benefit  asscciation,  branch,  lodge  or  division. 

2982  (19) 

Insurance  moneys  exempt  from  execution;  minor's  life; 
married  woman  beneficiary. 

Section  2982.  Subd'vision  19.  All  moneys  arising  on  any 
policy  of  insurance  on  the  life  of  a  minor,  payable  tO  his  father 
or  mother,  or  both,  shall  be  exempt  against  the  creditors  of  such 
father  or  mother,  but  not  against  the  creditors  of  such  minor; 
all  moneys  aris'ng  under  any  policy  of  insurance  payable  to 
a  married  woman  or  to  any  person  in  trust  for  her  or  her  ben- 
efit shall  be  exempt  from  the  claims  of  her  husband  and  of  the 
person  effecting  or  assigning  such  insurance  for  her  benefit  and 
from  the  claims  of  their  respective  representatves  and  creditors, 
subject  to  the  provisions  of  section  2347,  and  all  moneys  or 
other  benefit,  charity,  relief  or  aid  to  be  paid,  provided  or  ren- 
dered by  any  mutual  benefic"ary  or  fraternal  corporation,  so- 
ciety, order  or  association  providing  insurance  on  the  assess- 
ment plan  and  authorized  to  do  business  in  this  state,  shall  be 
exempt  against  the  creditors  of  a  member  thereof  or  his  ben- 
eficiary or  beneficiaries  to  the  amount  of  five  thousand  dol- 
lars in  all  cases  where  the  .insured  pays  the  premiums  or  as- 
sessments or  any  part  thereof;  but  if  some  other  person  pays 
such  premiums  or  assessments  the  insurance  shall  be  absolutely 
exempt. 

3218 

Injunction  on  in  solvency . 

Section  3218.  Whenever  any  corporation  having  banking 
powers,  or  having  power  to  make  loans  or  pledges  or  deposits, 
or  authori^zed  by  law  to  make  insurance  shall  become  insolvent 
or  unable  to  pay  its  debts  or  shall  neglect  or  refuse  to  pay  its 


3219  ACTIONS.  176 

notes  or  evidence  of  debts  on  demand  or  shall  have  violated 
any  of  the  provisions  of  its  act  of  incorporation  or  of  any  other 
law  binding  on  such  corporation,  any  court  having  jurisdiction 
may,  by  injunction,  restrain  such  corporation  and  its  officers 
from  exercising  any  of  its  corporate  rights,  pr.vileges  or  fran- 
chises, and  from  collecting  or  receiving  any  debts  or  demands, 
and  from  paying  out  or  in  any  way  transferring  or  delivering 
to  any  person  any  of  the  moneys,  property  or  effects  of  such 
corporation  unt'l  such  court  shall  otherwise  order. 

3219 

Injunction;  receiver,  powers  of. 

Section  3219.  Such  injunction  may  be  issued  upcn  the  com- 
mencement of  an  action  for  the  purpose  of  closing  up  the  bus- 
iness of  such  corporation  by  the  attorney  general  in  the  name 
of  the  state  or  by  any  creditor  or  stockholder  of  such  corpor- 
ation, or  at  any  time  thereafter  upon  proof  of  the  facts  required 
to  authorize  the  issuing  of  the  same.  The  court  may  in  any 
stage  of  such  action  appoint  one  or  more  receivers  to  take 
charge  of  the  property  and  effects  of  such  corporation  and  to 
collect,  sue  for  and  recover  the  debts  and  demands  that  may  be 
due  and  the  property  that  may  belong  to  such  corporation,  who 
shall  in  all  respects  possess  the  powers  and  authority  conferred 
and  be  subject  to  all  the  obligations  imposed  upon  receivers  in 
other  cases,  and  in  all  respects  be  subject  to  the  control  of  the 
court.  ^ 

3299 

Forfeiture,  action  to  recover;  complaint;  judgment. 

Section  3299.  When  a  forfeiture  is  imposed,  not  exceeding 
a  specified  sum  or  when  it  is  not  less  than  one  sum  or  more 
than  another,  the  action  may  be  brought  for  the  highest  sum 
specified;  and  judgment  may  be  rendered  for  such  sum  as  the 
court  or  jury  shall  assess  or  determne  to  be  proportionate  to 
the  offense.  ^ 

3300 

Forfeiture,  action  by  district  attorney  or  attorney  gen- 
eral; where  paid. 

Section  3300.  All  forfeitures  imposed  by  chapter  89  may 
be  sued  for  by  the  district  attorney  of  the  county  in  which  the 
insurance  company  or  any  of  its  agents  mentioned  in  said  chap- 
ter may  be  located  or  reside,  or  by  the  attorney  general.  If  the 
action  be  brought  by  the  distrct  attorney  one-half  of  the  for- 
feiture, when  recovered,  shall  be  paid  into  the  county  treasury 


177  FUTURE  ESTATES.  3871a 

of  his  county  and  the  other  half  to  the  informer  of  such  viola- 
tion who  sues  jointly  with  the  state  therefor,  and  otherwise  the 
whole  shall  be  paid  into  such  county  treasury.  If  the  action 
is  brought  by  the  attorney  general  the  sum  recovered  shall  be 
paid  into  the  state  treasury. 

Section  3577  is  referred  to  in  section  1946k. 

3871a  (Ch.  38,  1909,  in  effect  Apr.  14,  1909.) 

Future  estates;  moirtality  table;  interest  rate;  judge  to 
have  copy  of  table. 

Section  3871a.  The  present  value  of  every  estate,  annuity, 
or  interest  of  beneficiaries  for  all  purposes  in  every  estate  and  in 
all  courts,  *  *  *  shall  *  *  *  be  computed  *  *  * 
in  accordance  with  the  American  experience  table  of  mortality, 
and  interest  at  the  rate  of  five  per  cent  per  annum.  The  com- 
rrvissioner  of  insurance  shall  compute  the  present  value  of  the 
estates  or  interests  of  the  several  beneficiaries  when  the  necessary 
statement  of  facts  is  suhrmtted  to  him  upon  request  or  order  of 
any  court  or  judge  having  jurisdiction.  The  said  statement  of 
facts  shall  he  submitted  to  said  commissioner  of  insurance  in 
such  form  as  he  may  prescribe.  Provided,  however,  that  when 
it  is  impracticable  to  use  the  American  experience  table  of  mor- 
tality, the  commissioner  of  insurance  may  use  the  Northampton 
table.  *  *  *  In  all  cases  the  sum  of  the  present  value  of 
the  several  parts,  estates,  or  interests  of  the  several  beneficiaries 
shall  equal  the  net  value  of  the  entire  estates.     *     *     * 

The  comm/lssioner  of  insurance  shall  cause  to  he  printed 
authorized  annuity  tables  based  on  the  American  experience 
table  of  mortality,  and  five  per  cent  interest,  together  with  in- 
structions for  their  use  in  accordance  with  the  foregoing  pro- 
visions and  shall  furnish  copies  thereof  to  any  judge  making  ap- 
plication therefor. 

4182 

Evidence,  certificate  of  assessment. 

Section  4182.  Whenever  an  assessment  is  made  on  any  pre- 
mium note  given  to  any  mutual  insurance  company  for  any 
hazard  taken  by  said  company  or  as  a  consideration  for  any 
policy  issued  or  to  be  issued  by  said  company,  or  whenever  any 
assessment  ir.  made  by  the  directors  or  other  proper  officers  of 
any  such  company  for  money  due  it  from  any  member  thereof, 
and  action  is  brought  to  recover  such  assessment,  the  certificate 
of  the  secretary  of  said  company,  specifying  such  assessment, 
la-i.  L. 


4182a  EVIDENCE.  178 

the  amount  due  said  company  by  means  thereof  and  that  no- 
tice thereof  was  given  the  person  liable  therefor,  shall  be  re- 
ceived as  presumptive  evidence  of  the  facts  so  certified 

4182a 

Evidence,  verified  copies  of  book  eniiries. 

Section  4ia2a.  Whenever  any  evidence  shall  be  required 
from  the  books  of  any  life  or  mutual  benefit  insurance  corpor- 
ation or  association  engaged  in  doing  business  on  the  level  pre- 
mium or  assessment  plan,  at  the  t'me  of  the  trial  of  the  action 
or  proceeding  in  which  such  evidence  is  needed,  verified  copies 
of  the  entries  in  such  books,  together  with  statements  showing 
the  number  of  members  insured  "n  or  belonging  to  such  cor- 
poration or  association,  and  the  number  of  members  in  each 
class  or  grade  thereof  and  the  aggregate  amount  which  would 
be  due  from  them  upon  a  single  assessment,  when  made  by  the 
secretary  or  other  officer  thereof  having  the  custody  of  such 
books,  under  oath  or  affidavit,  stating  that  such  copy  or  copies 
are  true  and  are  taken  from  the  regular  books  of  the  corpora- 
tion .  or  association  used  and  kept  for  the  transaction  of  its 
business,  and  that  such  books  are  now  in  his  custody  or  under 
his  control  .vhall  be  received  in  all  legal  proceedings  as  prima 
facie  evidence  of  such  entries  or  statements.  No  ofiicer  of  any 
such  corporat'on  or  association  shall  be  compelled,  unless  by 
special  order  of  the  court  or  officer  before  whom  the  action  or 
proceeding  in  which  such  evidence  is  required,  to  produce  any 
books  or  records  thereof  before  the  same ;  provided,  the  verified 
entries  and  statements  herein  required  shall  be  served  upon  the 
attorney  of  the  party  who  requires  them  at  least  six  days  be- 
fore the  term  of  the  court  or  time  set  for  the  trial  or  hearing 
of  such  action  or  proceeding,  and  that  such  books  and  records 
shall  be  subject  to  the  inspection  of  any  interested  party  or 
his  attorney  to  the  extent  prescribed  by  all  orders  made  by 
such  court  or  officer  on  proper  application  therefor.  Any  per- 
son who  shall  wilfully  and  corruptly  make  a  false  copy  of  any 
entry  or  statement  herein  provided  for  or  give  false  testimony 
concerning  the  same  shall  be  deemed  guilty  of  perjury. 

4183 

Inspection  of  books  and  writing;  order  for. 

Section  4183.  The  court  before  which  an  action  is  pending, 
or  a  judge  thereof,  may,  in  discretion  and  upon  due  notice  or- 
der either  party  to  give  to  the  other  with'n  a  specified  time, 
an  inspection,  a  copy  or  permission  to  take  a  copy  of  any 
books,   papers   and   documents  in  his  possession   or  under  his 


170  EVIDENCE.  4202m 

control  contaning  evidence  relating  to  the  merits  of  the  action 
or  of  the  defense  therein.  If  compliance  with  the  order  be  re- 
fused the  court,  on  motion,  may  exclude  the  paper  from  being 
given  in  evidence  or  punish  the  party  refusing,  or  both. 

4202m  (Ch.  288,  1909,  in  effect  June  5,  1909.) 

Insurance,  application  for;  warranty;  effect  of. 

Section  4202m.  1.  No  oral  or  written  statement,  representa- 
tion, or  warranty  made  by  the  insured  or  in  his  behalf  in  the 
negotiation  of  a  contract  of  insurance  shall  be  deemed  material 
or  defeat  or  avoid  the  policy,  or  prevent  its  attaching  unless 
such  ^atement,  representation,  or  warranty  was  false  and  made 
with  actual  intent  to  deceive  or  unless  the  matter  misrepre- 
sented or  made  a  warranty,  increased  the  risk  or  contributed 
to  the  loss. 

Insurance  policy;  warranty;  effect  of. 
2.  No  warranty  incorporated  in  a  contract  of  insurance  relat- 
ing to  any  fact  prior  to  a  loss  shall  defeat  or  avoid  such  policy 
unless  the  breach  of  such  warranty  increased  the  risk  at  the 
time  of  the  loss,  or  contributed  to  the  .loss,  or  unless  such  breach 
existed  at  the  time  of  the  loss. 

PENAL  PROVISIONS. 
4405 

Fraud  on  life  company ;  absconding  insurer. 

Section  4405.  Any  person  who  shall  wilfully  burn  any  build- 
ing or  any  goods,  wares,  merchandise  or  other  chattels,  which 
shall  be  at  the  time  insured  against  loss  or  damage  by  fire, 
with  intent  to  injure  the  'nsurer,  whether  such  person  be  the 
owner  of  the  property  or  not,  shall  be  punished  by  imprison- 
ment in  the  state  prison  not  more  than  ten  nor  less  than  three 
years. 

4438e 

Fraud  on  life  company;  absconding  insurer. 
'  Section  4438e.  Any  person  who  shall  effect  a  policy  or 
certificate  of  insurance  or  procure  either  to  be  effected  on  his 
life,  with  the  intent  of  absconding  or  concealing  himself  for 
the  purpose  of  procruing  for  himself  or  any  other  person  the 
whole  or  any  part  of  the  money  payable  pursuant  to  such  po- 
licy or  certificate ;  or  any  person  having  a  policy  or  certificate 
of  insurance  upon  his  life  who  shall  abscond  or  conceal  himself 
with  the  intent  to  procure  for  himself  or  any  other  person  the 


4549m  PENAL  PROVISIONS.  180 

money  so  payable,  in  whole  or  in  part  or  any  person  who  shall 
knowingly  aid,  assist  or  abet  another  whose  life  is  insured  in 
absconding  or  concealing  himself  for  the  purpose  of  procuring 
for  himself  or  any  other  person  any  insurance  moneys,  or  any 
person  who  shall  knowingly  aid,  assist  or  abet  the  assured 
named  in  any  such  policy  or  certificate,  who  has  absconded  or 
concealed  himself  for  the  purpose  of  obtaining  from  any  insur- 
ance company  any  insurance  moneys  for  himself  or  any  other 
person;  or  any  person  who  shall  knowingly  aid,  assist  or  abet 
the  beneficiary  or  beneficiaries,  or  either  or  any  of  them,  named 
in  any  policy  or  certificate  of  insurance,  or  the  next  of  kin,  or 
any  person  having  an  insurable  interest  in  the  life  of  any  as- 
sured who  has  absconded  or  concealed  himself  for  the  purpose 
of  obtaining  any  insurance  moneys  for  himself  or  any  other 
person,  in  attempting  to  procure  or  procuring  such  moneys 
shall  be  fined  not  less  than  five  hundred  dollars  nor  more  than 
three  thousand  dollars  or  imprisonment  in  the  state  prison  not 
less  than  one  year  nor  more  than  five  years. 

4549m  (Ch.  126,  1909,  in  effect  July  1,  1909.) 

Officers  or  employee  of  banking  or  insurance  departments ; 
acceptance  of  gift;  penalty. 

Section  4549m.  No  officer  or  employe  of  the  state  charged 
with  or  engaged  in  the  examination,  investigation,  or  prose- 
cution of  any  bank,  trust  company,  building  and  loan  associ- 
ation, insurance  company,  or  mutual  benefit  society,  shall  di- 
rectly or  indirectly  accept  or  receive  for  his  own  use  any  sum 
of  money  or  thing  of  value  from  any  such  bank,  association, 
company,  or  society  or  any  officer,  agent,  or  employe  thereof  as 
a  gift,  gratuity,  or  payment  for  services,  expenses,  or  any  other 
thing  whatsoever,  other  than  such  as  shall  be  collected  and  paid 
to  the  state  as  required  by  law,  or  as  a  policy-holder  or  member 
of  such  company  or  society.  Any  person  violating  this  section 
shall  be  punished  by  a  fine  not  exceeding  one  thousand  dollars 
or  by  imprisonment  in  the  county  jail  not  exceeding  six  months, 
or  by  both  such  fine  and  imprisonment. 

4549t  (Ch.  438,  1909,  in  effect  July  1,  1909.) 

State  officer  or  employee;  acceptance  of  money  or  com- 
pensation for  service  or  information  relating  to  du- 
ties; penalty. 

Section  4549t.  No  officer  or  employee  of  the  state  shall  re- 
ceive or  accept  from  any  person,  firm,  or  corporation  any  sum 
of  money  or  other  compensation  other  than  such  as  is  required 
by  law  to  be  collected  and  paid  to  the  state  for  the  furnishing 


181  PENAL  PROVISIONS.  4575c 

of  any  information,  or  performance  of  any  service  whatever, 
relating  in  any  manner  to  the  duties  of  such  officer  or  employee. 
Any  person  violating  this  section  shall  be  punished  by  a  fine 
of  not  less  than  ten  dollars,  nor  more  than  five  hundred  dollars, 
or  more  than  six  months'  imprisonment  in  the  county  jail,  or 
by  both  such  fine  and  imprisonment. 

4575c 

Mutual  benefit  society;  acting  as  agent  after  license  re- 
voked. 

Section  4575c.  Any  person  who  shall  act  or  aid  in  any  man- 
ner in  transacting  in  this  state,  the  business  of  or  with  any  fra- 
ternal or  beneficiary  corporation,  society,  order  or  association 
for  the  relief  of  members  or  beneficiaries  and  furnishing  life  or 
casualty  insurance  upon  the  indemnity  plan,  in  placing  risks  or 
effecting  insurance  therein,  collecting  duties  or  assessments 
therefor,  or  in  any  other  manner,  after  the  license  of  any  such 
corporation,  society,  order  or  association  has  been  revoked  and 
while  it  is  without  authority  to  do  business  in  this  state,  or 
while  an  injunction  prohibiting  any  such  organization  from  do- 
ing business  in  this  state  is  in  force,  shall  be  punished  by  a  fine 
not  less  than  twenty-five  dollars  nor  more  than  two  hundred 
dollars,  or  by  imprisonment  in  the  county  jail  not  less  than 
thirty  days  nor  more  than  one  year,  or  by  both  such  fine  and 
imprisonment. 

4575d 

Unauthorized  mutual  benefit  society,  acting  as  agent  for. 

Section  4575d.  Any  person  who  shall,  in  any  manner,  sol- 
icit, advise,  aid  or  procure  or  aid  in  soliciting,  advising,  as- 
sisting or  procuring  any  person  to  become  a  member  of  any  as- 
assessment  plan,  corporation,  society,  order  or  association  con- 
ducted for  mortuary,  endowment,  sick,  accident  or  permanent  dis- 
ability benefit  or  any  other  kind  or  plan  of  assessment  insurance, 
which  corporation,  society,  order  or  association  is  not  author- 
ized to  transact  business  in  this  state,  or  who  shall  accept,  col- 
lect, receive  or  be  instrumental  in  the  collection  or  transmis- 
sion of  any  admission  fees,  assessments,  dues  or  payments  of 
any  kind  whatever  on  account  of  any  such  insurance  or  bene- 
fit certificate  in  any  such  corporation,  society,  order  or  associa- 
tion shall  be  punished  by  a  fine  of  not  less  than  fifty  dollars 
nor  more  than  three  hundred  dollars,  or  by  imprisonment  in 
the  county  jail  not  less  than  sixty  days  nor  more  than  one  year, 
or  by  both  such  fine  and  imprisonment. 


4575e  PENAL  PROVISIONS.  182 

4575e 

Fraud  in  ototaining  membership. 

Section  4575e.  Any  person  who  shall  knowingly  or  wil- 
fully make  any  false  or  fraudulent  statement  or  representation 
in  or  wnth  reference  to  any  application  for  membership  or  in 
or  with  reference  to  any  documentary  or  other  proof  for  the 
purpose  of  obtaining  membership  in  or  benefit  from  any  such 
corporation,  society,  order  or  association  as  is  mentioned  in  sec- 
tion 4575c  for  himself  or  any  other  person,  shall  be  fined  in  a 
sum  not  less  than  one  hundred  dollars  nor  more  than  one' 
thousand  dollars,  or  be  imprisoned  in  the  county  jail  not  less 
than  three  months  nor  more  than  one  year,  or  both;  and  any 
certificate  of  membership  or  policy  so  secured  shall  be  abso- 
lutely void. 


^- 


183         REFERENCE  TO  SECTION  NUMBERS.     LAWS  OP  1«99. 


TABLE    OF  CHAPTERS  OF    SESSION    LAWS 
OF  18V»9-1909. 

Givinsr  sections  of  the  statutes  created  or  amended. 


The  sections  of  this  compilation  are  taken  from  the  statutes  of  1898, 
and  the  laws  of  1899,  1901,  1903,  1905,  1907  and  1909.  All  sections  are  ar- 
ranged numerically. 

Sections  from  the  statutes  of  1898  are  found  under  corresponding  sec- 
tion number. 

Laws  enacted  since  1898  may  be  found  under  the  proper  section  number 
by  referring-  to  the  table  below: 

The  letter  "a"  preceding  the  section  number  indicates  that  the  session 
law  is  an  amendment,  the  letter  "n"  indicates  that  it  is  a  new  section. 


Laws  of  1899. 

Ch. 

22 

a  1951 

Oh. 

25 

a  1941—7 

Ch. 

27 

a  1941—27 

Ch. 

32 

a  1926 

Ch. 

65 

n  1966-^1  to  1966—88 

Ch. 

101 

a  1955c 

Ch. 

118 

Sec. 

1 

n  1941— 27a 

Ch. 

166 

Sec. 

1 

n  1906a 

Ch. 

166 

Sec. 

2 

n  1908a 

Ch. 

167 

n  1966—61  to  1966—71 

Ch. 

168 

a  1929 

Ch. 

169 

a  1937 

Ch. 

190 

Sec. 

1 

n  1919a  to  1919e 

Ch. 

192 

a  1971 

Ch. 

270 

n  1955-^1  to  1955—16 

Ch. 

316 

a  1941—46 

Ch. 

326 

a  1220 

Ch. 

344 

Sec. 

1 

n  1919g 

Ch. 

351 

Sec. 

30 

a  1966—36 

Laws  of  1901. 

Ch. 

21 

a  1220 

Ch. 

69 

a  1941-5 

Ch. 

81 

a  1928 

Ch. 

144 

Sec. 

2 

a  1925 

Ch. 

202 

a  1927 

Ch. 

221 

n  1955— 7a 

Ch. 

232 

n  1914a 

Ch 

233 

a  1972b 

Ch. 

235 

n  1966— 49a 

Ch. 

249 

n  1978f  to  1978m 

Ch. 

442 

a  1955a 

Ch 

449 

n  1955—1 

LAWS  OF  1903.     REFERENCE  TO  SECTION  NUMBERS.         184 


Laws  of  1903. 

Oh. 

6 

a  1951 

Oh. 

15 

n  2347b 

Ch. 

44 

n  1087—13(2)  and  1087—15(2) 

Ch. 

56 

n  1955a— 1 

Oh. 

68 

n  1978a— e 

Ch. 

93 

n  1941— la 

Ch. 

98 

a  1941—13 

Ch. 

106 

n  1966— 33a 

Ch. 

128n 

n  1941— 13a  to  1941— 13n 

Ch. 

130 

n  1966—49 

Ch. 

140 

n  1941— la 

Ch. 

190 

a  2637  (9)  (10)  (11) 

Ch. 

205 

a  1941—24 

Ch. 

205 

a  1941—25 

Ch. 

208 

a  1220 

Ch. 

214 

a  1947 

Ch. 

217 

a  1941—1 

Ch. 

237 

a  1954 

Ch. 

247 

a  1941—15  and  1941—16 

Ch. 

352 

a  1931 

Ch. 

394 

n  1905a 

Ch. 

413 

n  1966  49 

Ch. 

436 

a  1966—38 

Laws  of  1905. 

Ch. 

36 

a  1931 

Ch. 

38 

a  1976 

Ch. 

51 

a  1945a 

Ch. 

55 

n  1941— 22a  to  1941—221 

Ch. 

92 

a  1972 

Ch. 

102 

a  1941^64 

Ch. 

106 

a  1966—1  . 

Ch. 

166 

n  1919a 

Ch. 

167 

a  1974 

Ch. 

170 

n  1955—21  to  1955-26 

Ch. 

171 

n.  1966— 31a 

Ch. 

180 

a  1967 

Ch. 

181 

a  1920 

Ch. 

195 

a  1966-8 

Ch. 

196 

a  1941—7 

Ch. 

205 

a  1966—38 

Ch. 

206 

n  1914a 

Ch. 

212 

a  1972b 

Ch. 

253 

a  1951 

Ch. 

325 

a  1219 

Ch. 

353 

a  1977 

Ch. 

356 

a  1941—40  J 

Ch. 

357 

n  1955g 

Ch. 

373 

n  1941— 32a  to  1941— 32o 

Ch. 

425 

a  1967 

Ch. 

448 

a  1952 

Ch. 

451 

a  1971 

Ch. 

455 

a  1220 

Ch. 

503 

a  1967a 

Ch. 

501 

n  1966—49 

Ch. 

509 

a  1772,  1773,  1774 

Ch. 

519 

a  1950 

185        REFERENCE  TO  SECTION  NUMBERS.     LAWS  OP  1907. 


LaiDs  of  1907. 

Oh.  126  n  1946f 

Ch.   127  n  1953b 

Ch.   131  ri  1953e 

Ch.  132  a  1948 

Ch.   146  n  19470 

Ch.   150  a  1949 

Ch .   228  n  1946g  to  1946q 

Ch.  342  a  1953d 

Ch.  389  n  1760m 

Ch.  391  n  1947p 

Ch.  420  n  3781a 

Ch.  431  a  1941—1 

Ch.  432  a  1945e 

Ch.  439  a  1927 

Ch.  442  a  1931 

Ch.  447  .         n  1955y— 1  and  1955y— 

Ch.  457  a  1935 

Ch.  483  n  1955o— 5 

Ch.  501  a  1976 

Ch.   504  a  19550 

Ch.  511  a  1955a 

Ch .  525  a  1941—47  to  1941—64 

Ch.  546  a  1955j 

Ch.  555  D  1942—1 

Ch  .  562  a  1772 

Ch.  584  n  1953n 

Ch.  597  a  1954 

Ch.  599  n  1955x— 1 

Ch.  621  n  1947r 

Ch.  636  n  1952a  to  1952d 

Ch.  637  n  1946x 

Ch.  640  a  1947 

Ch.  656  a  1220 

Ch.  657  11  1950n  to  1950t 

Ch.   658  n  1952f    to  19521 

Ch.  667  n  1947c    to  1947k 

Ch.  668  n  1950m 


Lawii  of  1909. 

n  1941— 14m 

a  1927  (3),  1940 

n  1955— 23m,  a  1955—25 

a  3871a 

a  1947  (3) 

n  1941— 14t 

a  1947g 

n  1941n 

a  1931  (2) 

a  1945c 

u  1948m 

a  1978c 

a  1976 

a  1966—50 

a  1946X,  a  I950q,  a  1952d 

n  4549m 

n  1941a— 1  to  4 

a  1931a 


Ch. 

4 

Ch. 

31 

Ch. 

33 

Ch. 

38 

Ch. 

39 

Ch. 

52 

Ch. 

58 

Ch. 

63 

Ch. 

99 

Ch. 

106 

Ch. 

108 

Ch. 

113 

Ch. 

116 

Ch. 

118 

Ch. 

120 

Ch. 

126 

Ch. 

130 

Ch. 

153 

LAWS  OF  1909.     REFERENCE  TO  SECTION  NUMBERS.        186 


Laws  of  1909 — continued. 

Oh.  158  n  1955b— 5 

Ch.   159  n  19431 

Ch.  209  a  1950,  n  1950a,  1950b,  1950c 

Oh.  228  a  1947b,  j,  k,  n 

Ch.  234  n  1978x 

Ch.  244  a  1941—16 

Ch.  259  n  1219m 

Ch.  267  a  1903 

Ch.  274  n  1941_9m 

Ch  .288  n  4202m 

Ch.  290  a  1219 

Ch.  296  a  1»72 

Ch.  355  a  1772 

Ch.  3-90  a  1946n  (3) 

Ch.  438  n  4549t 

Ch.  449  n  1947o  (5) 

Ch.  459  a  1941—2,    1941—5,  1941—9,  1941—10,  1941—11, 

1941—12 
r  1941—3,  1941—6,  1941—8,  1941—13 

Ch.  460  n  1219e,  1896,  1897,  1897a,  1897b 

n  1897c,  1897d,  1897e,  1897g,  18971 
n  1897s,  1897t,  1898,  1898d 
n  1901J,  1901m,  1901n,  1941g 
a  1908 

r  1896,  1897,  1898,  1899,  1900,  1901,  1907,  1941a  to 
1941f,  1941—1,  1941— la,  1941—3,  1941 
—8,  1941—13,  1941—14  to  1941—22, 
1941— 22a  to  1941—221,  1941—23  to 
1041_32,  1941—33  to  1941—41,  1966 
•  —2  to  1966—12,  1966—13  to  1966—24, 
1966—25  to  1966— 31a,  1966—41,  1966 
—43,  1966—49,  1966—50  to  1966—54, 
1966—61  to  1966—71,  and  1966—81 
to  1966—88 

Ch.  521  a  1941—7,  n  1941— 7m 

Ch.  536  n  1950d 


^ 


187  ABANDONMENT  TO  AGENCY. 


INDEX. 


The  references  are  to  the  sections  which  are  arranged  numerically. 
The  section  numbers  are  taken  from  the  statutes  of  1898,  Sanborn  and 
Sanborn's  Supplement  and  the  laws  of  1907  and  1909.  To  find  a  section 
by  a  reference  to  a  chapter  of  the  session  laws  of  1899  to  1909  see  pre- 
ceding table,  p.  183. 

Abandonment,  none,  standard  fire  policy,  1941' — 44 

Absconding  to  perpetrate  fraud  on  life  company,  4438e 

Acceptance  of  nominations,  life  companies,  domestic  mutual,  1947e 

Accident  association,  deposit,  1955a  (3) 

Accident  business,   deposit  in    other   states,   mutual   benefit   societies, 

1955a  (4) 
Accident  companies,  see  casualty  companies,  see  disability  companies, 

see  mutual  benefit  societies 
Accident  companies,  reinsurance,  see  reinsurance,  life  companies 
Accident  insurance, 

life  companies,  1897,  1947a 
Accident  risk  prohibited,  life  companies,  1951 
Action,  see  removal  of  causes 

Action  against  insurance  companies,  joinder,  2609a 
Action  by  casualty  company,  credits  or  debts  guaranteed,  196G — 40 
Action  for  forfeiture,  commissioner  to  bring,  1972a 
Action  on  assessment, 

casualty  companies,  domestic,  1966 — 46 

city  and  village  mutuals,  1941 — 10 

fire  companies,  foreign,  r945b 

foreign  accident  companies,  1945b 

town  mutuals,  1936 
Actuary,  salary,  170 
Actuaries'  mortality  table, 

valuation,  life  policies,  1950,  1950c 
Additional  commission  prohibited,  life  companies,  1950s 
Additional  deposit,  see  deposit 

Additional  information  to  commissioner,  mutual  benefit  societies,  1955h 
Adjustment,  see  loss 
Admission, 

assessment  life  companies,  1955y — 1 

casualty  companies,  foreign,  19G6 — 32 

fire  companies,  foreign,  1915 

hail  insurance  companies,  foreign,  1966 — 1' 

mutual  benefit  societies,  foreign,  1955e 

upon  examination  by  commissioner,  1968 
Advances  to  agents,  limited  to  expense  charge,  life  companies,  1950q 
Advances  to  agents,  report,  life  companies,  1950n 
Advertisement,  see  misrepresentation 
Advertising,  report,  life  companies,  1950n 
Advisory  board  prohibited,  life  companies,  1955o 
Age  at  which  insurance  granted,  mutual  benefit  societies,  1955d 
Agency  supervision  expense  report,  life  companies,  1950n,  1954  (25) 


AGENT  TO  APPOINTMENTS.  188 


Agent, 

see  agent,  license 

see  agent,  resident 

acting  for  unauthorized  mutual  benefit  society,  4575d,  4575e 

application,  organization  life  companies,  license,  1947  (3) 

bond  to  pay  fire  department  duty,  1926 

combination  prohibited,  1943b 

compensation  only  as  agreed,  life  companies,  1950r 

corporation  not  licensed,  1955x — 1 

definition,  1977 

discrimination  prohibited,  1943L,  1955o 

liability,  policy  in  unauthorized  company,  1945e 

license,  1976 

local  association  may  make  rates,  1943b 

may  countersign  standard  fire  policy,  1941 — 64 

Milwaukee,  report  residence,  1946 

misrepresentation,  life  companies,  1946f 

risk  in  unauthorized  company,  penalty,  1919f 

soliciting  insurance,  service  of  process  on,  2637  (9) 
Agent,  license, 

see  license 

companies  to  issue,  1976  (2) 

aomestic  company,  charter  fees  for  filing,  1972 

existing  not  affected,  1976  (3) 

fire  and  marine  companies,  foreign,  1971,  1972 

forfeiture,  1972   (4) 

life  companies,  1971 

penalty,  1976  (4) 

return  to  commissioner,  1972  (2) 

revocation,  life  companies,  1955 
Agent,  resident, 

Lloyds  insurance,  1945g 

risk  approved  by,  1919a,  -1945e 
Agreement,  participating  and  non-participacing  policies,  1947o  (5) 
Amendments, 

see  articles 
American  experience  select  mortality  table,  valuation,  life  policies,  1950c 
American  experience  table  of  mortality  for  future  estates,  3871a 
American  experience  table  of  mortality,  life  companies,  1950,  1950c 
Amount  at  risk,  defined,  life  companies,  1946x 
Annual  dividends,  rates,  report  life  companies,  1954  (28) 
Annual  meetings,  see  elections 
Annual  report,  see  report 
Annual  statement,  see  report 

Annuity,  charged  on  deficient  premium,  life  companies,  1950 
Annuities,  may  be  non-participating,  1^47e 

valuation,  1950d  ^ 

Annulment,  see  cancellation 
Applicant  may  inspect  schedule,  1943b 
Application, 

attached  to  policy  of  fire  company,  1945a 

contents,  life  companies,  1947  (3) 

copy,  life  companies,  1953b 

part  of  contract,  standard  fire  policy,  1941 — 50 

statement,  separate  premiums,  1948m  (2) 
,    warranty  in,  4202m 
Application  for  admission,  contents,  casualty  companies,  foreign 

1966—32 
Applications  for  insurance  organization,  mutual  companies,  1897c 
Application  of  laws  to  mutual  benefit  societies,  1955J 
Appointments  by  commissioner  filed  with  secretary  of  state,  1967a 


189  APPRAISAL  TO  ATTORNEY.  A 

Appraisal,  standard  fire  policy,  1941 — 44,  1941 — 56 

Appropriation  to  state  insurance  fund,  1978e 

Approval  by  commissioner,  reinsurance,  life  companies,  1955 — 22 

Arbitrators,  standard  fire  policy,  1941 — 56 

Arson,  investigation,  state  fire  marshal,  1946j 

Arson,  injuring  insurer,  penalty,  4405 

Articles, 

domestic  companies.  1772   (7),  1897 

contents,  mutual  companies,  1897c 

filing,  insurance  companies,  1896 

filing,  town  mutuals.  1941n 

life  companies,  domestic,  1947 

life  companies,  foreign,  1953 

limitation  of  term  of  duration  of  corporation  removed,  1941g  (4), 
1941n 

mutual  benefit  societies,  1955a  (1),  1955b 

recording  insurance  companies,  1896 

town  mutuals,  1927 
Articles,  amendment, 

domestic  companies,  1772 

filing,  recording,  1774 

increase  of  capital  stock,  1908 

life  companies,  domestic,  1947  (4) 

mutual  benefit  societies,  notice,  1955b — 5 

town  mutuals,  filing,  recording,  1927  (3) 

town  mutuals,  territory,  1940 
Assessment, 

see  action  on  assessments 

casualty  companies,  domestic,  1966 — 46 

certificate  as  evidence,  4182 

defined,  mutual  benefit  societies,  1955j 

fire  companies,  foreign  mutual,  19451 

impairment  of  capital,  commissioner  to  prescribe  notice,  1969 

increase,  fire  companies,  foreign  mutual,  19451 

notice  omitted,  city  and  village  mutuals,  1941 — 9m 

paid  from  emergency  fund,  mutual  benefit  societies,  1955d 

paid  from  guaranty  fund,  mutual  benefit  societies,  1955m 

rates  of  in  new  mutual  benefit  societies,  1955  (2) 

town  mutuals,  1935 
Assessment  life  companies,  valuation  of  policies.  1948,  1955 — 21,  1955y — 

1,  1955y— 2 
Assets,  see  misrepresentation 
Assets  in  United  States  to  be  shown,  1946a 
Assets  not  equal  to  liabilities,  life  companies,  1949 

Assets,  reinsurance  permitted  to  amount  of,  casualty  companies,  do- 
mestic, 1966—48 
Assets,  single  risk  not  to  exceed  one-tenth,  insurance  generally,  1898. 

mutual  benefit  societies,  1955a — 1 
Assignment,  form,  standard  fire  policy,  1941 — 63 
Assignment  before  loss  avoids  standard  fire  policy,  1941 — 46 
Assignment  by  married  woman,  prior  excepted,  2347b 
Assignment  of  policy,  how  made,  life  companies,  domestic  mutual.  1947c 
Assignment  of  policy,  standard  fire  policy,  1941 — 46 
Assistant  actuary,  salary,  170 

Assistant  fire  marshal,  appointment,  state  fire  marshal,  1946g 
Assistants,  appointment,  state  fire  marshal,  1946h 
Association,  see  agents 
Attendance,  see  directors 
Attorney, 

deputy  fire  marshal,  one  to  be,  1946h 


ATTORNBY  TO  BURNINQ.  190 

Attorney — Continued. 

service  of  process  on,  2637  (9) 

verified  copies,  service,  4182a 
Attorney  for  service  of  process,  1919 

fire  companies,  foreign,  1915  (2) 

fire  or  marine  companies,  foreign,  1919 

life  companies,  foreign,  1953 

Lloyds  insurance,  1945g,  19781 

mutual  benefit  societies,  foreign,  1955f 

revocation  of  license  not  to  discontinue,  1947  (5) 
Attorney  general, 

combination;  prosecution,  1943b 

expenses,  mutual  benefit  societies,  1955k 

forfeiture,  action  for,  1943a,  3300 

form  of  license,  1222 

member  of  commission,  reinsurance,  1955 — 24 
Attorney  to  transact  business,  Lloyds  marine  insurance,  1978g 
Automatic  premium  loan,  see  premium  loan 
Ballot, 

duplicate,  life  companies,  domestic  mutual,  1947f 

form,  life  companies,  domestic  mutual,  1947g 

mailing  no  waiver,  life  companies,  domestic  mutual,  1947J 

name  inserted  when,  life  companies,  domestic  mutual,  1947e 

preservation,  life  companies,  domestic  mutual,  19471 

separate,  other  question,  life  companies,  domestic  mutual,  1947f 

tampering,  life  companies,  domestic  mutual,  19471 

to  be  mailed,  life  companies,  domestic  mutual,  1947f 
Bank  balances,  report,  life  companies,  1954  (26) 
Bankers'  casualty  mutuals,  repeal,  1941g 
Banking  business  prohibited,  life  companies,  domestic,  1951 
Bankruptcy,  see  insolvency,  1945 
Beneficiary, 

change  of,  mutual  benefit  societies,  1955c 

defined,  life  companies,  1946x 

married  woman,  may  be,  2347 
Beneficiary  corporations,  societies,  orders  or  associations,  see  mutual 

benefit  societies 
Benefits  equivalents,  policy  provision,  1948m  (4) 
Bicycle  mutuals,  repeal,  1941g 

Boards  of  fire  underwriters  and  fire  patrol,  1922 — 1925 
Board  of  underwriters,  1922 
Bond,  see  fidelity  bond 

Bond  of  casualty  company,  acceptance  authorized,  1966 — 33 
Bonds, 

investment  in  corporate,  1903  (2) 

investments  in  railroad  and  public  service,  1903 
Bonds,  state  and  municipal,  investments  in,  1903 
Bonds,  sureties,  approval,  filing,  comiiiissioner  of  insurance,  1967 
Bonuses  prohibited,  life  companies,  1950s 
Books,  see  evidence 

Books  of  account,  standard  fire  policy,  1941 — 55 
Books  of  insurance  companies,  copies  as  evidence,  4182a 
Borrowing  money,  city  and  village  mutuals,  1941 — 9 
British  Friendly  Society  Table  (1876  to  1880),  1950d 
British  Offices  Annuity  Tables,  (1893),  1950d. 
British  Offices  Select  O.   (M)   Mortality  table,  valuation,  life  policies, 

1950c 
Building,  see  premises 
Buildings  to  be  insured,  investments,  1903 
Burglary  insurance,  classification,  1897  (10) 
Burning  property  to  injure  insurer,  4405 


191  BY-LAWS  TO  CASUALTY.  B 

By-laws, 

amendment,  1941g  (3) 

laws  repealed,  1941g  (2) 

filing,  forfeiture,  insurance  companies,  1897d 
Cancellation, 

city  and  village  mutuals,  1941 — 11 

town  mutuaib,  1937 

policy  misrepresentation,  1946d 

short  rate,  1946d 

standard  fire  policy,  1941 — 52 
Capital, 

investment,  domestic  companies,  1903 

paid  in,  domestic  companies,  1773 

required,  stock  companies,  1897g 

stock  companies,  1908 

subscribed,  domestic  companies,  1773 
Capital  stock, 

see  capital 

casualty  companies,  domestic  mutual,  1966 — 46 

fire  companies,  foreign,  1915  (1) 

dividend,  liability,  casualty  companies,  domestic,  1966—45,  1966—46 

policies  to  state,  1946b 

reduction,  1970 

report,  life  companies,  1954   (4) 

subscription,  casualty  companies,  domestic,  1966 — 45 
Capital  stock,  impairment, 

casualty  companies,  domestic,  1966 — 46 

fire  companies,  foreign,  1915  (2),  1917 

life  companies,  1955 

commissioner's  duty,  1969,  1970 
Capital  stock,  increase, 

fire  companies,  domestic,  1908 

casualty  companies,  domestic,  1966 — 45 
Capital  stock,  minimum, 

casualty,  companies,  foreign,  1966 — 32 

fire  companies,  domestic,  1898 

life  companies,  domestic,  1947  (3) 
Cash,  see  premium 

Cash  payments,  funeral  benefits,  insurance  companies,  1978x 
Cash,  report,  life  companies,  1954  (8) 
Cash  value,  co-insurance,  1943e 
Cash  value,  liability,  standard  f  re  policy,  1941 — 44 
Cash  value,  limitation  below  prohibited,  1943a 
Casualty  company  bond, 

see  fidelity  bond 
Casualty  companies, 

s*ee  casualty  companies,  domestic 

see  casualty  companies,  foreign 

see  disability  companies 

action  on  credits  or  debts  guaranteed,  1966 — 40 

bond  of,  acceptance  authorized,  1966 — 33 
■     certificate  of  authority  to  issue  fidelity  bond,  1966— 33a,  1966—34 

certificate  to  accompany,  in  justice  court.  1966 — 33a 

charter  forfeited  for  unlawful  dividend,  1966 — 44 

conditions  to  be  specified,  employer's  liability  policy,  1966—42 

costs,  .fidelity  bond  of  chargeable  as,  1966 — 36 

county  to  pay  expense  of  fidelity  bond,  1966 — 38 

credit  guarantee  business,  powers,  1966 — 40 

deposit  of  money  by  principal  on  casualty  fidelity  bond,  1966 — 37 

directors'  liability,  dividends,  how  avoided,  1966 — 44 

disbursements,  fidelity  bond  chargeable  as,  1966 — 36 


CASUALTY  COMPANIES.  192 

Casualty  companies — Continued. 

dividends,  limitation,  sources,  1966 — 44 

employer's  liability  policy,  prohibited  provision,  1966 — 42 

estoppel,  authority  to  execute  fidelity  bond,  1966 — 39 

expense  of  fidelity  bond,  limitation,  1966—38 

forfeiture  of  charter,  unlawful  dividend,  1966 — 44 

form  of  undertaking,  justice  court,  1966 — 33a 

indemnity,  credit,  1966—40 

justification,  certificate  equal  to,  1966 — 34 

justice  court,  fidelity  bond,  in,  1966 — 33a 

laws  apply  to  foreign  companies,  1966 — 32 

license  fees    1219e 

limitation  of  premium,  fidelity  bond,  1966—36,  1966—38 

limitation,  time  for  notice  of  injury,  1966 — 49a 

mailing  registered  notic^  of  injury;  1966 — 49a 

municipality  to  pay  expense  of  fidelity  bond,  1966 — 36 

notice  of  injury,  1966— 49a 

policy  to  specify  time  for  notice  of  injury,  1966 — 49a 

premium  on  fidelity  bond  chargeable  as  disbursement,  1966 — 36 

registered  mail,  notice  by  sufficient,  1966 — 49a 

release  from  liability,  fidelity  bond,  1966—35 

repeal,  1941g 

resident  agent,  1955e 

state  to  pay  expense  of  fidelity  bond,  1966—38 

stockholder,  liability  for  unlawful  dividend,  1966—44 

surety,  casualty  company  may  be,  1966 — 34 

surplus,  how  computed,  1966 — 44 

time  for  notice  of  injury,  policy  to  specify,  1966 — 49a 

town  to  pay  expense  of  fidelity  bond,  1966 — 38 

undertaking  in  justice  court  by,  1966 — 33a 

village  to  pay  expense  of  fidelity  bond,  1966 — 38 

year  means  calendar  year,  1966 — 44 
Casualty  companies,  domestic,  1966 — 25,  1966 — 31a 

see  casualty  companies 

assessment  on  impairment  of  capital  stock,  1966 — 46 

assets,  reinsurance  permitted  to  amount.  1966 — 48 

cal)ital  stock,  cancellation,  1966 — 46 

capital  stock,  increase,  vote,  1966—45 

capital  stock,  reduction  on  impairment.  1966-46 

capital  stock,  stock  dividend,  1966—45 

capital  stock,  transfer  not  to  release,  1966—46 

directors,  forfeiture  of  stock  on  impairment,  1966—46 

directors,  liabilities  on  organization,  1966 — 28 

directors,  new  risks,  when  liable  for,  1966 — 46 

directors,  three-fourths  to  approve  dividend,  1966—45 

impairment  capital  stock,  1966 — 46 

insolvent,  when  dissolved,  1966 — 46 

notice  of  increase  of  capital  stock,  1966—45 

premiums,  reserve  liability  not  less  than  50  per  cent,  196b— 4b 

receiver  may  reinsure,  1966 — 48 

reinsurance  by  receiver,  1966 — 48 

reserve  liability,  1966—46 

stockholders  to  make  good  impairment,  1966—46 

vote  on  reduction,  capital  stock,  1966—46 
Casualty  companies,  foreign,  1966—32,  1966— 49a 

see  casualty  companies 

additional  deposit,  1966—32 

admission,  condition  of,  1966—32 

attorney,  appointment,  1966—32 

capital  stock,  minimum,  1966—32 

4epP5it,  W66— 32  ;  , 


i 


193  CASUALTY  TO  CITY. 


Casualty  companies,  foreign — Continued. 

laws  relating  to  domestic  casualty  companies  apply  to,  1966 — 32 
license,  expiration  of,  accident  companies,  1916 
statement  of  financial  condition,  1966 — 32 
Certificate, 
see  license 
see  stock  certificate 
Certificate,  domestic  companies,  1897t 
Certificate  of  assessment,  see  assessment 
Certificate  of  authority,  see  license 
Certificate  of  deposit  with  state  treasurer,  1973 
Certificate  of  loss,  magistrate,  1945d 
Certificate  of  magistrate,  standard  fire  policy,  1941 — 55 
Certificate  of  valuation,  1950  (7) 

Certificate  to  casualty  bond  in  justice  court,  1966 — 33a 
Certificate  to  mutual  benefit  societies,  1955b 
Certificate  withheld  by  commissioner,  1968 
Change  of  beneficiary,  see  beneficiary 
Chapter  35  referred  to  in  1941—12 
Chapter  86  referred  to  in  1922,  1947,  1955b 
Chapter  89  referred  to  in  1914 
Charge  on  return  premium,  see  short  rate 
Charter,  see  articles 
Charter,  copy  filed  by  life  companies,  foreign,  1953 

fees  to  commissioner  for  filing,  1972 

forfeited  for  unlawful  dividend,  casualty  companies,  1966 — 44 
Chattel  mortgage,  standard  fire  policy,  1941 — 46 
Chief  clerk,  commissioner  to  appoint,  salary,  1967a,  170 
Chiefs  of  fire  departments,  fees  froin  state  fire  marshal,  1946q 
Children,  policy  payable  to  on  death  of  married  woman,  2347 
Church  mutuals,  repeal,  by-laws,  1941g 

Circuit  judge  to  appoint  umpire,  standard  fire  policy,  1941 — 56 
City  and  village  mutuals,  1941—2,  1941—12 

action  on  assessment,  1941 — 10 

assessments,  1941—7,  1941 — 9 

assessment  notice,  omission,  validation,  1941 — 9m 

borrowing  money,  1941 — 9 

cancellation,  1941 — 11 

contingent  fund,  limitation,  1941 — 7 

director's  liability,  1941—10 

fees  of  treasurer,  1941 — 9 

license  fee,  1219 

loss,  notice,  1941 — 9 

meeting,  annual,  1941—2 

members,  who  are,  1941 — 7 

notice  of  assessments,  1941 — 9 

policies,  standard  required,  1941 — 6 

policy  fee,  limitation,  report,  1941 — 7m 

policies,  term,  1941 — 5 

property,  what  may  insure,  1941 — 5 

proxy  vote,  by  whom,  1941 — 2 

repeal,  by-laws,  1941g 

reports,  annual,  1941 — 12 

risk,  single,  1941—5 

surplus,  basis  for  single  risk,  1941—5 

suspension,  1941 — 9 

term  of  policy,  1941 — 5 

treasurer,  bond  of,  1941 — 4 

validation,  assessment,  1941 — 9m 

vote,  each  member  one,  1941 — 2 

withdrawal,  1941—11 
13-1.  L. 


CIVIL  TO  COMMISSIONER.  194 

Civil  authority,  excepted  risk,  standard  fire  policy,  1941 — 47 
Civil  war,  excepted  risk,  standard  fire  policy,  1941 — 47 
Claims  resisted,  life  companies,  1954  (27) 
Classification, 

see  directors 

see  risks 

insurance  companies,  1897 
Clerks,  salary,  170 
Clerks,  state  fire  marshal,  1946n 
Collateral  security,  investments  in,  1903  (2) 

Commerce  and  labor,  department  of,  valuation,  life  companies,  1950  (5) 
Commission,  reinsurance,  life  companies,  1955 — 24 
Commissions, 

general  agents,  report,  life  companies,  1954  (25) 

limitation  to  expense  charge,  life  companies,  1950q 
Commissioner  of  insurance,  94k,  94m,  128,  170,  961,  1967 — 1972 

see  articles 

see  attorney  for  service  of  process 

see  commissioner 

see  license 

see  policies 

assessments,  notice,  fire  companies,  foreign  mutual,  19451 

attorney,  appointment,  Lloyd's  marine  insurance,  1^781 

ballots,  samples,  life  companies,  domestic  mutual,  1947f 

blanks  for  report,  mutual  benefit  societies,  1955g 

capital  stock,  increase,  copies,  casualty  companies,  domestic, 
1966—45 

capital  stock,  resolution  to  increase,  fire  companies,  doniestic 
stock,  1908 

certificate,  guarantee  surplus  fund,  1909 

compensation  and  expense  paid  by  company,  1945e,  1968 

compensation,  none,  reinsurance,  life  companies,  1955 — 25 

deposit,  accident  mutual  benefit  societies,  1955a  (3),  1955a  (4) 

deferred  dividend,  apportionment,  life  companies,  1952h 

election,  result,  life  companies,  domestic  mutual,  19471 

future  estates,  form  of  submitting  for  valuation,  3981a 

gain  and  loss  exhibit,  life  companies,  1953n 

hearing  on  petition,  reinsurance  life  companies,  1955 — 24 

impairment  of  capital,  casualty  companies,  domestic,  1966 — 46 

inspection  of  records,  1945e 

loss,  adjustment,  state  insurance  fund,  1978c 

notice  of  revocation  of  license,  1917 

petition,  reinsurance  life  companies,  1955 — 22 

printed  form,  standard  fire  policy,  1941 — 42 

real  estate,  time  to  dispose  of,  1902 

receiver,  casualty  companies,  domestic,  1966 — 46 

reduction  of  capital  stock,  consent,  1970 

salary,  170 

statement  and  order,  reinsurance,  life  companies,  1955 — 25 

statements,  political  contributions,  life  companies,  1953d 

statement,  surplus,  life  companies,  1952c 

stock  dividend,  approval,  fire  companies,  domestic  stock,  1908a 

subpoena,  reinsurance  life  companies,  1955 — 24 

to  make  valuation,  1950  (6) 

underwriters,  list,  changes,  Lloyd's  marine  insurance,  1978h 

valuation,  fee  paid  into  state  treasury,  1950 

valuation,  policies,  life  companies,  1950 

valuation,  risks  for  state  insurance  fund,  1978b 
Commissioner,  additional  information 

fire  companies,  1920  (6) 

life  companies,  1953n 

mutual  benefit  societies,  1955b 


195  COMMISSIONER  TO  CREDIT.  C 

Commissioner,  certificate, 

casualty  companies,  1966— 33a 

fidelity  bond  casualty  companies,  1966 — 34 

life  companies,  domestic,  1947  (3) 

mutual  benefit  societies,  1955b 
Commissioner,  examination, 

all  companies,  1968 

foreign  companies,  1919c 

Lloyd's  marine  companies,  1978j 

mutual  benefit  societies,  1955h,  19551 

mutual  benefit  societies,  foreign,  1955f 
Committee  of  reference,  see  arbitrators 
Committee,  see  loss 
Companies, 

see  casualty  companies 

see  domestic  companies 

see  fire  companies 

see  foreign  companies 

see  life  companies 

see  marine  companies 

see  mutual  companies 

see  stock  companies 

discrimination  prohibited,  19431,  1955o 

general  laws;    see  insurance  companies,  1897d 

to  issue  agent's  license,  1976  (2) 
Company  defined,  life  companies,  1946x 

Compensation  only  as  agreed  in  advance,  life  companies,  1950r 
Complaint  for  forfeiture,  3299 
Concealment,  standard  fire  policy,  1941 — 45 
Concealment  to  perpetrate  fraud  on  life  company,  4438e 
Conditions,  see  transacting  business 
Conditions,  place  of  bringing  actions,  1975 
Conditions  to  be  specified,  employees'  liability,  policy,  1966—42 
Conditions,  waiver,  standard  fire  policy,  1941 — 62 
Confirmation,  state  fire  marshal,  1946g 

Consent  by  company  to  assignment,  standard  fire  policy,  1941 — 63 
Consent  of  beneficiary  to  change,  mutual  benefit  societies,  1955c 
Consent  of  person  effecting  insurance  to  assignment,  2347b 
Consolidation,  see  reinsurance 

Contempt,  proceedings  before  state  fire  marshal,  1946k 
Contents,  additional,  standard  fire  policy,  1941 — 64 
Contingency  reserve,  life  companies,  1952a 
Contingent  fund,  limitation,  city  and  village  mutuals,  1941 — 7 
Contingent  estates,  see  future  estates 

Contract  contrary  to  law,  binds  company,  standard  fire  policy,  1941 — 65 
Contract,  other  than  policy  prohibited,  life  companies,  1955o 
Copies,  false,  penalty,  4182a 
Copies  from  books  of  insurance  companies,  4182a 

Copies,  reports  state  insurance  fund  filed  with  secretary  of  state,  1978d 
Copies  served  on  attorney  before  used  as  evidence,  4182a 
Corporate  stocks,  pledge  of,  investments  in,  1903 
Corporation,  not  licensed  as  agent,  life  companies,  1955 — 1 
Corporations,  members,  mutual  companies,  1897g 
Corporators,  see  incorporators 

Costs,  casualty  company  fidelity  bond  chargeable  as,  1966—36 
County  court,  commissioner  to  certify  value  of  future  estates,  1087 — 16 

(2) 
County  to  pay  expense  of  casualty  company  fidelity  bond,  1966 — 38 
County  treasury,  forfeiture  paid  Into,  3300 
Credit  guarantee  casualty  company,  powers,  1966 — 40 
Credit  guarantee  company,  see  casualty  company 


CREDIT  TO  DIRECTORS.  196 


Credit  insurance,  classification,  1897  (9) 

Creditors,  rights  in  policy  payable  to  married  woman,  2347 

Crops,  hail  insurance  companies,  foreign  may  insure,  1966 — 1 

Cumulative  vote,  domestic  mutual  life  companies,  1947c,  1947g 

Curative  provision,  see  validating  provision 

Cyclone  risk, 

fire  companies,  1945c 

town  mutuals,  1931 
Damages, 

cash  value,  limitation  below  prohibited,  1943a 

realty,  face  of  policy,  1943 

standard  fire  policy,  1941 — 60 
Death  of  insured, 

rebating,  life  companies,  1955o 

standard  fire  policy,  1941 — 46 
Death  of  married  woman,  policy  payable  to  children,  2347 
Death  of  nominee,  life  companies,  domestic  mutual,  1947e 
Default  in  payment,  penalty,  town  mutuals,  1935 
Defendant  insurance  companies,  joinder,  2609a 
Defenses,  premium  notes  subject  to,  1944 
Deferred  dividends,  life  companies, 

ascertainment,  1952f 

diversion  prohibited,  1952g 

over  five  years  prohibited,  1952 

statement  to  commissioner,  1952h 

statement  to  policyholder,  form,  19521 
Definitions,  1906,  1906a,  1941—60,  1946x,  1955J,  1966—44,  1977,  1978 

agents,  1977 

life  companies,  1946x 

mutual  benefit  societies,  1955j 
Department, 

see  commerce  and  labor 

see  commissioner 

see  foreign  state 
Deposit, 

casualty  companies,  foreign,  1966 — 32 

fire  companies,  foreign,  1915  (4) 

life  companies  from  foreign  countries,  1950b^ 

mutual  benefit  societies,  foreign  accident  or  health,  1955a  (4) 
.  certificate  of,  fire  companies,  foreign,  1915  (6) 

defined,  life  companies,  1946x 

guaranty  fund,  mutual  benefit  societies,  1955m 

money  by  principal  on  fidelity  bond,  casualty  companies,  1966 — 37 

reserves  by  life  companies  from  foreign  countries,  1950 

retaliatory  laws,  1221 

withdrawal,  foreign  companies,  1918 

with  state  treasurer,  1973 
Deputy  commissioner,  salary,  oath  and  bond,  170,  1967a 
Deputy  fire  marshal,  appointment,  1946h 
Description,  see  application 
Direct  insurance,  reinsurance  excluded,  1219 
Directors, 

assisting  other  nomination  prohibited,  1947e 

attendance  at  meetings,  life  companies,  domestic  mutual,  1947k 

casualty  companies,  domestic,  1966 — 46 

classification,  fire  companies,  domestic,  1945f  • 

eligibility,  life  companies,  domestic  mutual,  1947k 

liability,  domestic  companies,  18971 

life  companies,  domestic,  1947  (2),  1947c 


197  DIRECTORS  TO  DOMESTIC.  D 

Directors — Continued. 

town  mutuals,  1928 

town  reinsurance  mutuals,  1941a — 3 
Directors,  liabilities, 

casualty  companies,  1966 — 44,  1966 — 46 

city  and  village  mutuals,  1941 — 10 

fire  companies,  domestic  mutual,  1945h 

town  mutuals,  1936 
Directors,  meetings,  when  held,  life  companies,  domestic  mutuals,  1947k 
Directors,  nominations,  life  companies,  domestic  mutuals,  1947e 
Directors,  number  chosen  each  election,  life  companies,  domestic  mu- 
tual, 1947c 
Directors,  misrepresentation,  life  companies,  1946f 
Directors,  powers,  town  mutuals,  1937 
Directors,  term, 

town  mutuals,  1929 
Directors,  vote  on  dividend,  casualty  companies,  domestic,  1966 — 45 
Disability  benefits,  how  provided  for,  mutual  benefit  societies,  1955a  (2) 
Disability  companies, 

excepted,  expense  limitation,  1901j 

reinsurance,  hearing,  notice,  1955 — 23m 
Disability  policies,  valuation,  1950d 
Disability  insurance,  classification,  1897  (4) 
Disbursements, 

fidelity  bond  chargeable  as  casualty  company,  1966 — 36 

political,  legislative,  1953d,  1953e 
Discontinuance  of  business, 

after  revocation  by  commissioner,  1968 

life  companies,  1949 
Discrimination  prohibited, 

fire  companies,  1943  1 

life  companies,  1955o 
Distribution  of  surplus  by  life  companies,  1952 
District  attorney, 

to  be  furnished  evidence  by  state  fire  marshal,  1946j 

to  bring  action  for  forfeiture,  3300 
District  of  Columbia,  domestic  life  companies  may  loan  in,  1951 
Dividends, 

see  deferred  dividends 

see  surplus 

casualty  companies,  1966 — 44,  1966 — 45 

fire  companies,  domestic,  l906a 

life  companies,  1952  to  19521 

annual,  life  companies,  1952a 

annual,  ascertainment,  life  companies,  1952b 

application,  life  companies,  1952c 

apportioned  fractional  policy  year,  life  companies,  1952c 

factors,  required,  life  companies,  1952c,  1954  (28) 

limitation,  casualty  company,  1966 — 44 

rates,  fire  companies,  1906,  1906a 

report,  life  companies,  1954  (19) 

statement,  form,  life  companies,  1952d 

statement  to  commissioner,  contents,  life  companies,  1952c 

statement  to  insured,  life  companies,  1952c 

stock,  fire  companies,  domestic  stock,  1908a 

unauthorized,  penalty,  fire  companies,  domestic  stock,  1906a 
Domestic  companies, 

see  casualty  companies 

see  fire  companies 

see  life  companies 

see  marine  companies 


DOMESTIC  TO  EXAMINER.  198 

Domestic  companies — Continued. 

articles,  amendments,  filing,  recording,  fees,  1772   (7) 

articles,  contents,  1772 

capital,  subscribed,  paid  in,  1773 

defined,  life  companies,  1946x 

examination,  first,  1897t 

investments,  1903,  1951 

organization,  1772,  1773,  1774  (Ch.  86),  1896 

repeal,  1941g 

special  surplus  fund,  1897s 

transacting  business,  conditions,  18971 

transacting  insurance,  conditions,  i897s 

transacting  insurance,  examination,  certificate,  1897c 
Domestic  casualty  companies,  repeal,  by-laws,  1941g 
Domestic  fire  company, 

see  fire  companies,  domestic  mutual 

see  fire  companies,  domestic  stock 
Domestic  fire  and  marine  companies,  repeal,  by-laws,  1941g 
Domestic  mutuals,  repeal,  1941g 

Druggists  and  hardware  dealers  mutuals,  repeal,  by-laws,  1941g 
Duplicate  ballot,  life  companies,  domestic  mutual,  1947f 
Duties,  state  fire  marshal,  19461 
Elections. 

see  ballots 

see  votes 

place,  life  companies,  domestic  mutual,  1947 

report  of  annual,  life  companies,  domestic  mutual,  1954  (24) 

salaries,  life  companies,  domestic  mutual,  1947r 

when  held,  life  companies,  domestic  mutual,  1947c 
Elevator  insurance,  classification,  1897  (13) 
Eligibilty,  see  directors,  see  officers 
Emergency  fund,  mutual  benefit  societies,  1955d 
Employee,  banking  or  insurance  department,  4549m 
Employee  of  commissioner  not  to  accept  gratuities,  1968 
Employees'   liability   policy,   prohibited  provision,    casualty   company, 

1966—42 
Employee,  state,  acceptance  of  compensation;  penalty,  4549t 
Endorsement,  standard  fire  policy,  1941 — 46 

Endowment,  pure  excepted,  annual  dividends,  life  companies,  1952b 
Estate,  insurance  payable  to,  mutual  benefit  societies,  1955c 
Estates,  see  future  estates 
Estoppel,  authority  to  execute  fidelity  bond,  casualty  companies,  1966 — 

39. 
Evidence, 

certificate  of  assessment,  4182 

copies  from  books  of  insurance  companies,  4182a 

documentary,  4182,  4182a 

inspection  of  books,  4183 
Evidence,  warranty,  4202m  ^ 

Examination, 

see  commissioner 

books  of  commissioner,  1972c 

insured  under  standard  fire  policy,  1941 — 55 

fire  companies,  1908,  1968 

fire  companies,  foreign,  1919c 

first,  domestic  companies,  1897t 

guaranty  surplus  fund,  1909 

increase  of  capital  stock,  1908 

Lloyd's  marine  companies,  1978J 

mutual  benefit  societies,  19551 
Examiner,  appointment,  salary,  1966a,  170 


I 


199  EXCHANGED  TO  FINE.  199 

Exchanged  policies,  non-participating  may  issue  for,  1947e 

Exchange  of  securities  on  deposit,  1973 

Execution  accompanied  by  certificate  of  assessment,  fire  companies, 

domestic  mutuals,  1907 
Execution,  exemption,  insurance  moneys,  2982  (19) 
Execution,  exemption,  policy  payable  to  married  woman,  2347 
Expense  charge, 

commission  limited  to,  life  companies,  1950q 

defined,  1946x 

limitation,  1950m 

valuation,  1950  (3) 
Expense  provision  in  premium,  life  companies,  1950m 
Expenses, 

appraisers,  standard  fire  policy,  1941 — 56 

commissioner  at  convention,  1972a 

examination  paid  by  company,  1955,  1968 

legislative,  statement,  1953e 

limitation,  mutual  companies,  190  Ij 

political,  statement,  1953d 

publication,  limited,  1971 

reinsurance,  life  companies,  1955 — 25 

report,  life  companies,  1950n,  1954  (20) 
Expenses,  limitation, 

life  companies,  1950o,  1950p,  1950q 

aggregate,  life  companies,  1950p 

first  year,  life  companies,  1950o 
Explosion, 

see  risks,  1897  (1) 

damage  by,  standard  fire  policy,  1941 — 47 

fire  companies  may  write,  1897  (1),  1945c 
Explosives,  standard  fire  policy,  1941 — 46 
Extended  insurance,  policy  provision,  1948m  (4) 
Extension  of  time  by  commissioner  for  filing  report,  1971 
Fallen  building,  standard  fire  policy,  1941 — 48 
Federal  courts,  see  removal  of  causes 
Fee  for  valuation,  life  companies,  1950 
Fee,  organization,  domestic  life  companies,  1947  (3) 
Fees, 

see  retaliatory  laws 

agents'  license,  1972 

filing  charter,  1972 

valuation,  1950a 
Fees  and  licenses,  report,  life  companies,  1950n,  1954  (32) 
Fees  payable  to  commissioner,  1972 
Fidelity  bond, 

acceptance  authorized,  1966 — 33 

commissioner  may  give,  cost,  1966 — 67 

deposit  of  money  by  principal,  1966 — 37 

estoppel  to  deny  authority,  1966 — 39 

justice  court,  1966— 33a 

official  cost,  1966—38 

premium,  chargeable  as  costs,  1966 — 36 

release  of  casualty  company,  1966 — 35 

when  may  be  executed  by  casualty  company,  1966 — 33 
Fidelity  insurance,  classification,  1897  (7) 
Filing,  see  commissioner 
Filing  by-laws,  insurance  companies,  1897d 
Filing  charter,  fees,  1972 

Filing  clerk,  commissioner  to  appoint,  170,  1967a 
Fine,  see  penalty 


FINES  TO  FIRE.  200 


Fines,  retaliatory  laws,  1221 
Fire  companies, 

see  city  and  village  mutuals 

see  fire  companies,  domestic 

see  fire  companies,  domestic  mutuals 

see  fire  companies,  domestic  stock 

see  fire  and  marine  companies,  domestic 

see  fire  companies,  foreign 

see  fire  companies,  foreign  mutuals 

see  Lloyd's  insurance 

see  reinsurance  companies 

see  state  insurance  fund 

see  town  mutuals 

agents,  resident  to  write  policies,  1945e 

domestic,  risks,  sprinkler  leakage,  explosion,  1945c 

fire  marshal  tax,  1946n  (3) 

license  fees  unauthorized  insurance,  1219m 

license  fees,  1219 

reinsurance,  1905a,  19191) 

report,  annual,  1920 

safety  clause,  see  guaranty  surplus  fund 

tax  for  fire  marshal,  1946n 
Fire  companies,  domestic, 

commissioner  may  enlarge  time  to  dispose  of  real  estate,  1902 

dividends,  1906a 

guaranty  surplus  fund,  1914 

real  estate,  when,  may  hold  or  dispose  of,  1902 

trading  powers,  1902 
Fire  companies,  domestic  mutual, 

directors  liable  for  illegal  business,  1945h 

meeting,  annual,  surplus  distributed,  1942 — 1 

risk,  cyclone,  1945c 

surplus,  limitation,  1942 — 1 
Fire  companies,  domestic  stock  and  mutual,  1895 — 1908a 

charter  to  be  filed,  1915  (3) 

deposit,  1915  (4) 

examination,  1919  c 

fees  on  deposit,  1915  (4) 

impairment  of  capital,  1915  (2),  1917 

investments,  bonds,  1915  (4) 

judgment,  non-payment  of,  1919d 

license,  expiration  of,  1916 

license  fee,  1915  (7),  1917 

license,  revocation,  1919e 

penalties,  1919e 

penalty,  commissioner's  inquiry,  1920 

neglect  of  to  file  annual  report,  1920 

reinsurance,  1918 

removal  of  causes,  1915  (2),  1917       ^ 

report  of  reinsurance,  1919d 

revocation  of  license,  1917 

service  on,  1919 

retaliatory  laws,  1221 

statement  of  financial  condition,  1915  (3) 
Fire  companies,  domestic  stock, 

capital  stock,  increase  of,  1908 

commissioner,  certificate  for  guaranty  surplus  fund,  1909 

commissioner  to  approve  stock  dividend,  1908a 

commissioner  to  have  copy  of  resolution  to  increase  stock,  190S 

dividends,  1906 

dividends,  unauthorized,  penalty,  1906a 


201  FIRE  TO  FISCAL. 

Fire  companies,  domestic  stock — Continued. 

guaranty  surplus  fund,  1909 

notice  of  increase  of  capital  stock,  1908 

scrip  dividends,  1906a 

stock  dividend,  permitted  when,  1908a 

stockholders,  consent  to  stock  dividend,  1908a 

stockholders,  consent  three-fourths,  1908 

stockholders,  liable  for  unlawful  dividend,  1906 

surplus  required  for  dividend,  1906a 

surplus,  rule  for  estimating,  1910 
Fire  companies,  foreign,  1915— 1919c 

assessment,  action  limited,  1945b 

admission,  1915 

agents'  license  fee,  1972 

application,  attached  to  policy,  1945a 

annual  report,  1915  (5) 

attorney,  ajipointment  of,  1915  (2) 

capital  stock,  1915  (1) 

certificate  of  authority,  1915  (6) 

certificate  of  deposit,  1915  (6) 
Fire  companies,  foreign  mutual 

assessments,  increase,  notice  to  commissioner,  1945 
Fire  department, 

bond  by  agent  to  pay  duty,  1926 

duties,  1926 

Milwaukee,  report,  1946 

premiums,  statement  required,  1926 

what  sulRcient,  1926 
Fire  department  chiefs,  fees  for  reporting  fires,  1946q 
Fire  insurance  companies, 

see  fire  companies,  domestic 

see  fire  companies,  foreign 
Fire  and  marine  companies,  license  fees,  1219 
Fire  insurance, 

classification  (1897)  1 

general  provisions,  1942 — 1946 
Fire  marshal,  see  state  fire  marshal 
Fire  patrol, 

assessment  of  expense,  1925 

board  of  underwriters  may  establish,  1923 

duties,  1923 

expenses,  how  fixed,  maximum,  1924 

notice  of  annual  meeting,  1924 

premiums,  statement,  1925 
Fire,  risk, 

fire  companies,  1897  (1) 

life  companies,  domestic,  1951 

Lloyd's  marine  insurance,  1978f 

school  district  mutuals,  1941 — 32a 

standard  fire  policy,  1941 — 43 

state  insurance  fund,  1978b 
Fires,  fee  for  reporting  to  state  fire  marshal,  1946q 
Fires,  state  fire  marshal  and  municipal  officers  to  investigate,  1946i 
First  meeting,  see  meeting 

First  payment,  Lloyd's  marine  insurance,  1978g 
First  year  business,  separate  exhibit,  life  companies,  1953n 
First  year  expense  provision  limited,  life  companies,  1950m 
First  year  expenses,  limitation,  life  companies,  1950o 
First  year  expenses,  report,  life  companies,  1950n 
Fiscal  year,  articles,  life  companies,  domestic,  1947  (2) 


FORECLOSURE  TO  GUARANTY. 


202 


Foreclosure,  standard  fire  policy,  1941—46 
Foreign  companies, 

see  casualty  companies 
see  fire  companies 
see  life  companies 
see  marine  companies 
Foreign  companies,  defined,  1946x 
Foreign  companies,  limitation  of  assessment,  1945b 
Foreign  country,  deposit  of  reserves,  life  companies,  1950 
Foreign  fire  company,  judgment,  non-payment,  1919d 
Foreign  state,  department  of,  valuation  accepted,  1950  (4) 
Foreign  insurance  company,  service  of  process,  2637  (9) 
Forfeiture,  3299,  3300 

actions,  conditions,  1975 
agents'  license,  1976  (4) 

failure  to  file  annual  report,  life  companies,  1954 
judgment  unpaid,  doing  business,  1974 
of  charter,  fire  companies,  1943a 
Milwaukee  agents,  1946 
not  filing  by-laws,  1897d 
unlawful  dividend,  1906,  1906a 
unlawful  dividend,  casualty  company,  1966 — 44 
waive  none,  standard  fire  policy,  1941 — 57 
writing  policies  after  discontinuance,  1949 
Formal  part,  standard  fire  policy,  1941 — 43 
Forms, 

see  articles 
see  ballot 
see  dividend 
see  license 
see  report 

see  standard  fire  policy 
see  statement 
see  undertaking 
Fractional  policy  year,  dividend  apportioned,  life  companies,  1952b 
Fractional  vote  not  recognized,  life  companies,  domestic  mutuals,  1947g 
Fraternal  associations,  orders  or  societies,  see  mutual  benefit  societies 
Fraud  in  becoming  member  of  mutual  benefit  society,  4575e 
Fraud  on  life  companies,  absconding,  4438e 
Fraud,  standard  fire  policy,  1941 — 45  . 
Friendly  societies,  see  mutual  benefit  societies 
Funds,  how  invested,  domestic  companies,  1903 
Funeral  benefits,  insurance  companies,  1978x 
Future  estates,  valuation,  1087—13  (2),  1087—15  (2),  3871a 
Gain  and  loss  exhibit  required,  life  companies,  1953n 
General  agents,  commissioners  report,  life  companies,  1954  (25) 
General  clerk,  commissioner,  appointment,  salary,  1967a,  170 
Gift,  acceptance  prohibited,  4549m 
Governor^ 

annual  report  by  state  fire  marshal,  1946p 
approval,  bond  of  commissioner,  1967 
commissioner  to  report  receipts  to,  1972c 

member  of  commission,  reinsurance,  life  companies,  1955 — 24 
report  of  commissioner  to,  1972b 
to  appoint  state  fire  marshal,  1946g 
Gratuities  to  commissioner  prohibited,  penalty,  1968 
Guaranty  fund,  mutual  benefit  societies,  1955m 
Guaranty  surplus  and  special  reserve  funds,  1909 — 1914 
Guaranty  surplus  fund, 

applies  to  all  domestic  and  marine  companies,  1914 
assessment  on  stockholder,  1912 


203  GUARANTY  TO  INSPECTION.  Q 

Guaranty  surplus  fund — Continued. 

discharge  of  liability,  1912 

dividends,  rule  for,  1910 

fire  companies,  domesic,  1914 

fire  companies,  domestic  stock,  1909 

investment,  1911 

restoration  of  capital,  1913 

transfer  of  securities,  1912 

use  of  reserve  in  extensive  conflagration,  1912 
Hail  companies,  policies  to  be  separate,  1897a  (4) 
Hail  and  cyclone  mutuals,  repeal,  by-laws,  1941g 
Hail  companies,  foreign,  1966 — 1 

admission,  conditions,  1966 — 1 

attorney  for  service  of  process,  1966 — 1 

commissioner  to  have  statement  of,  1966 — 1 

crops,  risk  of,  1966 — 1 

license,  expiration,  fee,  1916 
Hail  mutual  companies,  see  cyclone  companies 
Hail,  risk,  fire  companies  may  assume,  1945c 
Health  and  Accident  company, 

see  disability  company 
Health  companies,  reinsurance,  see  reinsurance,  life  companies 
Health  insurance  deposit  in  other  states,  mutual  benefit  societies, 

1955a  (4) 
Health  insurance  permitted,  life  companies,  1947a 
Hearing,  commissioner  to  fix,  reinsurance,  life  companies,  1955 — 23 
Home  office,  first  year  expense,  report,  life  companies,  1950n 
Hurricanes,  see  cyclones 
Hurricane,  risk, 

fire  companies  may  assume,  1945c 
Husband,  married  woman  may  insure,  2347 
Husband  may  insure  for  benefit  of  wife,  2347 
Illuminating  gas,  standard  fire  policy,  1941 — 46 
Immunity  to  witness  testifying,  life  companies,  1955c 
Impairment,  see  capital  stock 

see  reserve 
Incorporation,  see  organization 
Incorporators,  liability  domestic  companies,  1897 
Incorporators,  number,  insurance  companies,  1896 
Increase, 

see  capital  stock 
Increase  of  fees,  see  retaliatory  laws 
Increase  of  hazard  avoids  standard  fire  policy,  1941 — 46 
Indemnity,  credit,  casualty  companies,  1966 — 40 

Independent  nominations,  lists,  life  companies,  domestic  mutual,  1947d 
Indorsements,  forms,  standard  fire  policy,  1941 — 63 
Industrial  business,  separate  exhibit,  life  companies,  1953n 
Industrial  insurance,  excepted 

annual  dividends,  life  companies,  1952b 

expense  limitation,  life  companies,  1950t 

limitation  of  loading,  life  companies,  1950m 

policy  provisions,  1948m 
Industrial  insurance,  valuation,  1950d 
Informer,  one-half  forfeiture  paid  to,  3300 
Injunction,  insolvency  of  corporation,  3218,  3219 
Inquiries,  commissioner  of  companies  and  officers,  1968 
Insolvency, 

casualty  companies,  domestic,  1966 — 46 

injunction  on,  3218 

voids  premium  note,  1945 
Inspection  of  risks,  report,  life  companies,  1950n 


INSPECTORS  TO  INTEREST.  204 

Inspectors  of  elections,  how  appointed,  1947e 
Insurance,  see  risks 

Insurance  by  married  woman,  2347,  2347b 
Insurance  commissioner,  see  commissioner 
Insurance  companies, 

see  casualty  companies, 
companies 
domestic  companies 
fire  companies 
foreign  companies 
life  companies 
marine  companies 
mutual  companies 
stock  companies 

articles,  approval,  filing,  recording,  1896 

by-laws,  filing,  forfeiture,  1897d 

domestic  mutual,  license  fees,  exceptions,  1219  (2) 

funeral  benefits,  1978x 

incorporators  number,  1896 

classification,  1897 

investments,  1903 

organization,  1896,  1897 

policies  to  be  separate,  l897a  (3) 

purposes,  1897 

reinsurance  deducted  to  ascertain  maximum  risk,  1898 

risk,  maximum  single,  1898 

risks,  minimum  outstanding,  1898d 

risks  permitted  in  one  company,  1897a  (2) 
Insurance  companies  may  reinsure,  1905 
Insurance  corporation,  defined,  1978 
Insurance  corporation,  service  of  process  on,  2637 
Insurance  in  force,  statutes  as  to  married  woman  applicable  to,  2347 
Insurance  laws,  penalty  for  violation,  1955o — 5 
Insurance  other  than  life,  discrimination,  penalty,  1943  1 
Insured, 

defined,  life  companies,  1946x 

defined,  standard  fire  policy,  1941 — 60 

dividend  statement,  life  companies,  1952c 

duties,  standard  fire  policy,  1941 — 55 

exemption,  moneys  due  from  mutual  benefit  society,  2982 — 19 

gain  and  loss  exhibit  on  request,  life  companies,  1952d 

inspection  of  schedule,  1943b 

liability  for  fire  department  dues,  1926 

unauthorized  insurance,  license  fees,  report,  payment,  1219m 

who  may  be,  mutual  benefit  societies,  1955d 
Insurer,  burning  property  to  injure,  4405 
Insurers  to  comply  with  law,  1978 

Insurrection,  excepted  risk,  standard  fire  policy,  1941 — 47 
Interest  basis, 

life  policies,  1950c 

annuities,  1950d 

disability  policies,  1950d 

industrial  insurance,  1950d 
Interest,  change  in  avoids  standard  fire  policy,  1941 — 46 
Interest,  rate,  deferred  dividends,  life  companies,  1952c 
Interest,  rate  in  valuation  of  future  estates  by  commissioner,  1087 — ■ 

13  (2) 
Interest,  rate,  valuation,  life  policies,  1950c 
Interest  and  rents,  report  life  companies,  1954  (16) 
Interest  defaulted  not  included  in  dividends,  fire  companies,  1906,  1906a 


205  INTEREST  TO  LICENSE.  I 

Interest  on  assessment,  school  district  mutuals,  1941 — 321 

Interest  on  deferred    dividend,    diversion    prohibited,    life    companies, 

1952g 
Interest  on  policy  loans,  report,  life  companies,  195^4  (30) 
Interest  savings,  report,  life  companies,  1950n 
Invasion,  excepted  risk,  1941 — 47 

Inventory,  insured  to  make,  standard  fire  policy,  1941 — 55 
Investigations,  private,  state  fire  marshal,  1946k 
Investment  expenses  report,  life  companies,  1950n 
Investments,  see  securities 

domestic  companies,  1903 

fire  companies,  foreign,  1915  (4) 

life  companies,  domestic,  1951 

single,  limitation,  1903 
Jewelers  mutuals, 

organization,  risks,  1941 — 14m 
Joinder  of  insurance  companies  as  defendants,  2609a 
Joint  life  and  accident  or  health  policies,  life  companies,  1897,  1947a 
Joint  policy,  standard  fire  policy,  1941 — 64 
Judgment  for  forfeiture,  3299 
Judgment,  non-payment,  1974 
Judgment,  payment,  1919e 

Justice  court,  casualty  company,  fidelity  bond,  1966 — 33a 
Justification,  casualty  company,  certificate  equal  to,  1966 — 34 
i^apsed  policies,  loans,  report  life  companies,  1954  (31) 
Laws,  see  table  preceding  index 
Laws  applicable  to  mutual  benefit  societies,  1955j 
Laws  repealed,  1941g 

Legal  representatives,  standard  fire  policy,  1941 — 60 
Legislative  expenditures,  report,  life  companies,  1954  (23) 
Legislative  expenditures,  statement  required,  life  companies,  1953e 
Liability, 

see  directors 

see  incorporators. 
Liability  insurance,  classification,  1897  (5) 
Liabilities  exceeding  assets,  life  companies,  1949 
Liability,  limitation,  see  members 
License,  1947  (5),  1948,  1949 

see  certificate 

agents,  fees,  1972 

agents,  1976 

accident  mutual  benefit  societies,  1955a  (4) 

fire  companies,  foreign,  1915  (6) 

life  companies,  1948 

life  companies,  domestic,  1947  (3),  1947  (5) 

Lloyd's  marine  insurance,  1978  1,  1978m 

mutual  benefit  societies,  1955h 

form,  1222 

none  to  corporation  as  agent,  life  companies,  1955x 

not  granted  for  one  year,  misrepresentation,  1946c 

renewal,  when  prohibited,  life  companies,  domestic,  1947  (5) 

retaliatory  laws,  1221 

rights  of  stockholders  and  policyholders,  life  companies,  1847p 
License,  agent, 

exception,  1976 

revocation,  risk  in  unauthorized  company,  1919f,  1945e 

revocation,  violation  of  law,  1972a 

rights  of  stockholders  and  policyholders,  life  companies,  1847p 
License  clerk,  commissioner  of  insurance  to  appoint,  1967a 
License  clerk,  salary,  170 


LICENSE  TO  LIFE  COMPANIES.  206 

License  expires  January  31, 

fire  companies,  foreign,  1916 
marine  companies,  foreign,  1916 
mutual  hail  companies,  foreign,  1916 
License  expires  February  1,  Lloyd's  marine  insurance,  1978—1 
License  expires  March  1 

foreign  accident  companies,  1916 

life  companies,  1916 
mutual  benefit  societies,  foreign,  1955f 
License  fees,  1219 — 1222 

casualty  companies,  1219e 
city  and  village  mutuals,  1219 
fire  and  marine  companies,  1219 

fire  companies,  foreign,  1915  (7),  1917 

life  companies,  domestic,  1220,  1947 — 5 

life  companies,  foreign,  1220 

Lloyd's  marine  insurance,  1978j 

mutual  benefit  societies,  1955—1 

paid  to  state  treasurer  by  commissioner,  1972o 

report,  life  companies,  1954  (33) 

retaliatory  laws,  1221 

unauthorized  insurance,  fire  companies,  1219m 
License  fees,  exceptions, 

domestic  mutuals,  1219  (2) 

grand  lodge  mutual  benefit  societies,  1955—1 
License,  revocation, 

fire  companies,  foreign,  1917 

fire  companies,  foreign,  1919e 

foreign  companies,  1968,  1972a 

life  companies,  1947  (5),  1955 

Lloyd's  marine  insurance,  1978m  ^ 

co-insurance,  1943a 
discrimination,  1955o 

premium  notes,  1944 

unauthorized  agent,  1945e 
Life  companies 

see  life  companies,  domestic 

see  life  companies,  domestic  mutuals 

see  life  companies,  foreign 

see  mutual  benefit  societies 

see  reinsurance  companies 

see  reinsurance  life  companies 

absconding  to  perpetrate  fraud  on,  4438e 

accident  insurance  permitted,  1947a 

actuary  appointed  by  commissioner,  1950 

actuary  assistant  appointed  by  commissioner,  1950 

additional  commission  prohibited,  1950s 

advances  to  agents,  limited  to  expense  charge,  1950q 

advances  to  agents,  report  of,  1950n 

advertising,  report  of,  1950n 

advisory  board  prohibited,  1955o 

agents,  compensation  only  as  agreed,  1950r 

agent,  corporation  not  to  act  as,  1955x — 1 

agent's  license,  fees  to  commissioner  for,  1972 

agent's  license  revoked  when,  1955 

agent,  misrepresentation  by,  1946f 

agents  on  organization,  special  certificates,  1947  (3) 

agency  supervision,  expense,  1954  (25) 

agency  supervision,  first  year  expense,  report  of,  19B0n 

annual  dividends,  rate  of,  1954  (28) 

annuity,  value  of,  when  charged,  1950 


207  LIFE  COMPANIES.  •  L 

Life  companies — Continued. 

American  experience  table  of  mortality,  1950 
amount  at  risk,  defined,  194Gx  ♦ 

application,  contents,  1947   (3) 

application,  policy  holder  may  request  copy,  1953b 

ascertainment  of  deferred  dividends,  1952f 

ascertainment  of  dividends  annually,  1952b 

assessment,  1955 — 21 

assessment,  not  admitted,  exception,  1955y— 1 

assessment,  reorganization,  1955y — 2 

assessment,  valuation  of  policies,  1948,  1950,  1955y— 1,  1955y— 2 

assets  not  equal  to  liabilities,  1949 

beneficiary,  defined,  1946x 

bonuses  prohibited,  1950s 

bank  balances,  1954  (26) 

calendar  year,  expenses  limited,  1950o,  1950p,  1950q 

capital,  impairment  of,  1955 

capital  stock,  1954  (4) 

cash,  1954  (8) 

certificates,  value  how  computed,  1948 

claims  resisted,  1954  (27) 

commerce  and  labor,  valuation  by  department  of,  1950 

commission,  limited  to  expense  charge,  1950q 

commission  on  loans,  1954  (2) 

commissions,  general  agents,  1954  (25) 

company,  defined,  194Gx 

compensation  only  as  agreed  in  advance,  1950r 

concealment  to  perpetrate  fraud  on,  4438e 

contingency  reserve,  1952a 

contract,  other  than  policy  prohibited,  1955o 

corporation,  not  to  be  licensed  as  agent,  1955x — 1 

death  of  insured,  no  evidence  received  after,  rebating,  1955o 

deferred  dividend  and  surplus,  1952a 

deferred  dividends,  ascertainment  of  for  policy  holder  on  request, 
1952f 

deferred  dividends,  diversion  prohibited,  1952g 

deferred  dividends,  policies  excepted,  annual  dividends,  1952b 

deferred  dividends  prohibited,  1952 

deferred  dividends,  statement,  contents,  1952h 

deferred  dividends,  statement  to  policy  holder,  19521 

definitions,  1946x 

deposit,  defined,  1946x 

deposit  by  life  companies  of  foreign  countries,  1950 

discontinuance  of  business,  1949 

director  of,  misrepresentation  by,  1946f 

discrimination  prohibited,  1955o 

distribution  of  surplus,  1952 

diversion  of  deferred  dividend  prohibited,  1952g 

dividends,  annual,  1952a 

dividends  apportioned,  fractional  policy  year,  1952c 

dividends,  deferred,  prohibited,  1952 

dividends,  factors  required.  i952c 

dividends,  how  applied,  1952c 

dividends  report,  annual,  1952c,  1954  (19) 

dividends,  statement  to  insured,  1952d 

domestic  company,  defined,  1946x 

election,  result,  1954  (24) 

endowment,  pure  excepted,  annual  dividend,  1952b 

expenditures,  legislative,  statement  required,  1953e 

expense  charge,  defined,  1946x 

expenses,  aggregate;  limitation,  1950p 


LIFE  COMPANIES.  208 

Life  companies — Continued. 

expenses,  first  year,  limitation,  1950o 

expenses,  report,  1954  (20) 

expenses,  provision  for  limited,  1950m 

expenses,  report  of  first  year,  total,  1950n 

factors,  dividend,  annual  report,  1952c,  1954  (28) 

fees  and  licenses,  report,  1950n 

fees  for  valuation,  1950 

fees,  examination  and  valuation,  report,  1954  (32) 

first  year  business,  separate  exhibit,  1953n 

first  year  expenses,  limitation,  1950m 

first  year  expenses,  report,  1950n 

foreign  country,  deposit  of  reserves,  1950 

forfeiture,  failure  to  file  annual  report,  1954 

forfeiture,  writing  policies  after  discontinuance,  1949 

form  of  dividend  statement,  1952d 

form  of  report,  expenses,  1950n 

form  of  statement  to  deferred  dividend  policy  holder,  1952i 

fractional  policy  year,  dividend  apportioned,  1952c 

fraud  on,  absconding,  concealment,  4438e 

gain  and  loss  exhibit  required,  1953n 

gain  and  loss  exhibit  sent  insured  on  request,  1952d 

general  agents  commission,  annual  report,  1954  (25) 

health  insurance  permitted,  1947a 

home  office,  first  year  expense,  report,  1950n 

immunity  to  witness  testifying,  1955o 

industrial  business,  separate  exhibit,  1953n 

industrial  excepted,  annual  dividends,  1952h 

industrial  excepted,  limitation  of  loading,  1950m 

industrial  excepted,  expense  limitation,  1950t 

interest  on  policy  loans,  1954  (30) 

interest  and  rent,  1954  (16) 

investment  expenses,  report  of,  1950n 

inspection  of  risks,  report  of,  1950n 

insured,  defined,  1946x 

insured  to  have  dividend  statement,  1952d 

interest  element  in  mortality  charge,  1946x 

interest  on  dividend,  diversion'  prohibited,  1952g 

interest,  deferred  dividend  accumulation,  1952c 

interest  savings,  report,  1950n 

joint  life  and  accident  or  health  policies,  1947a 

lapsed  policies,  loans  on,  report,  1954  (21) 

legislative  expenditures,  report,  1954  (23) 

legislative  expenditures,  statement  required,  1953e 

liabilities  exceeding  assets,  1949 

license  fee,  amount,  1220 

license  fee,  annual  report,  1954  (33) 

license,  none  until  rights  of  stockholder  and  policy  holders  reported, 

1947p 
license  not  to  issue  to  corporation  as  agent,  1955x — 1 
license,  revocation,  1955 
license  revoked  for  discrimination,  1955o 
license,  when  issued,  1948 
limitation  of  first  year's  expense,  1950o 
limitation  of  provision  for  expense  in  premium,  1950m 
loading  expense  charge,  1946x 
loading,  limitation  of,  1950m 
loans,  1954  (7) 

losses  outstanding,  1954   (13) 
medical  examination,  1950n 
misrepresentation,  1946f 


209  LIFE  COMPANIES.  ] 

Life  companies — Continued. 

mortaRty  charge,  defined,  1946x 

mortality  savings,  report,  1950n 

mortality  table,  element  in  mortality  charge,  1946x 

mortality,  table  used,  1950 

mortgage  loans,  annual  report,  1954  (6) 

mortgage  loans,  Wisconsin,  annual  report,  1954  (35) 

mutual  benefit  society  excepted  in  definition  of  company,  1946x 

net  premium  in  excess  of  actual  premium,  1950 

net  value,  how  computed,  1950 

non-participating,  separate  exhibit,  1953n 

notice  of  renewal  of  license,  1955 

officer,  misrepresentation,  1946f 

ordinary  business,  separate  exhibit,  1953n 

participating  business,  separate  exhibit,  i953n 

penalty,  discrimination,  1955o 

penalty,  fraud  on,  absconding,  4438e 

personal  insurance,  1947a 

policies,  valuation,  1948 

policies,  writing  after  discontinuance,  1949 

policyholder  may  request  statement,  deferred  dividend,  1952i 

policyholder  in  stock  life  companies,  rights  in  surplus,  1947p 

policyholder  to  have  copy  application  on  request,  1953b 

policy,  defined,  1946x 

policy  anniversary,  defined,  1946x 

policy  loans,  Wisconsin,  1954  (34) 

policy  provisions,  1948m 

policy  to  express  entire  contract,  1955o 

policy  year,  defined,  1946x 

political  contribution,  statement,  1953d 

paid  up  insurance  excepted,  annual  dividends,  1952b 

premium,  defined,  1946x 

premium  notes,  report,  1954   (9) 

premiums,  annual  report,  1954  (15) 

premiums,  limitation  of  expense  charge,  1950m 

privilege  of  witness,  1955o 

prizes  prohibited,  1950s 

real  estate,  annual  report,  1954  (5) 

rebating  prohibited,  1955o 

rebating,  evidence  barred  after  death  of  insured,  1955o 

reinsurance,  1955 — 21 

reorganization  of  assessment,  1955y — 2 

report,  annual,  1954 

report,  deferred  dividend  apportionment,  1952h 

report,  first  year  expenses,  1950n 

report,  rights  of  stockholders  and  policy  holders  in  surplus,  1947p 

reserve,  defined,  1946x 

reserve  funds  held,  annual  report,  1954  (29) 

reserve,  how  computed  to  determine  surplus,  1952 

reserve  liability,  1950 

salaries  over  $3,000.00,  report,  1954  (25) 

services,  contract  for  prohibited,  1955o 

service  of  demand  for  forms,  1955o 

special  guaranty  fund,  1947  (3) 

statement  required  of  surplus  and  apportionment,  1952c 

stock  excepted  from  expense  limitation  when,  1950t 

stock,  when  sale  of  prohibited,  1955o 

sum  insured,  defined,  1946x 

surplus  funds  held,  1954  (29) 

surplus,  1552 

surplus,  rights  of  stockholders  and  policyholders  in,  1947p 

14—..    L. 


LIFE  COMPANIES.  210 

Life  companies — Continued. 

surplus,  unapportioned,  1952a 

taxes,  report  of,  1950n 

term  of  corporation,  1954  (3) 

terminal  reserve,  defined,  1946x 

three  years,  no  license  issued  for,  1955o 

unapportioned  surplus,  1952a 

valuation  fee,  1950 

valuation  of  assessment,  policies,  1955y — 1,  1955y — 2 

valuation  of  policies,  basis,  method,  1950 

valuation  of  other  state,  accepted  when,  1940 

waiver  ofi  defense,  failure  to  furnish  copy  of  application,  1953b 

witness,  immunity  to,  1955o 
Life  companies,  domestic,  1947 — 1947a 

see  life  companies 

amendments  to  articles,  1947  (4) 

articles,  contents,  1947  (2) 

attorney  to  continue  on  revocation  of  license,  when,  1947  (5) 

banking  business  not  to  be  done,  1951 

capital  stock  required,  1947  (3) 

certificate  by  commissioner,  organization,  1947  (3) 

commissioner  to  file  articles,  1947  (4) 

commissioner  to  file  certificate,  organization,  1947  (3) 

directors,  election,  vacancies,  terms,  articles,  1947  (2) 

District  of  Columbia,  may  loan  in,  1951 

fee  on  organization,  1947  (3) 

filing  articles,  1947  (4) 

fiscal  year,  articles,  1947  (2) 

insurance,  minimum,  on  organization,  1947  (3) 

investments,  1951  . 

license  fee,  1947  (5)  ! 

license  not  renewed  for  three  years,  when,  1947  (5) 

meeting,  first,  1947  (4) 

members,  minimum  on  organization,  1947  (3) 

mortgages  on  real  estate,  investments  in,  1951 

municipal  bonds,  investments  in,  1951 

mutuals,  1947  (1) 

notice  of  first  meeting,  1947  (4) 

organization  of,  1947 

other  states,  loans,  1951 

pledge  of  bonds,  loans  on.  1951 

policies,  loan  on,  1951 

premium,  first  required,  1947  (3) 

railway  mortgage  bonds,  investments  in,  1951 

renewal  of  license,  prohibited  when,  1947  (5) 

removal  of  causes,  1947  (5) 

retaliatory  laws,  1221 

revocation  of  license,  1947  (5)  j 

risks,  minimum,  1947  (3) 

state  bonds,  investments  in,  1951 

stock,  1947  (1) 

territories,  loans  in,  1951 

United  States  bonds,  investments  in,  1951 
Life  companies,  domestic  mutual,  1947c-1947k 

see  life  companies 

acceptance  of  nominations  required,  1947e 

assignment  of  policy,  how  made,  1947c 

attendance  of  directors  at  meeting,  1947k 

ballot,  duplicate  furnished  when,  1947f 

ballot,  form  of,  1947g 

ballot  mailing  no  waiver,  1947J 


211  LIFE  COMPANIES. 


Life  companies — Continued. 

ballot,  name  inserted  when,  1947e 
ballots,  tampering  with,  19471 

candidate  for  director,  nomination,  acceptance,  1947e 
canvass  of  votes,  19471 
certificate  of  inspectors  of  result,  19411 
cumulative  voting,  1947c,  1947g 
director  ineligible  after  forfeiture,  1947k 
directors'  meetings,  when  held,  1947k 
death  of  nominee,  1947e 

director  assisting  other  nomination,  penalty,  1947e 
director,  election  of,  1947c 
directors,  number  chosen  each  election,  1947c 
directors  to  appoint  inspectors,  1947e 
directors  to  nominate  candidates,  1947e 
duplicate  ballot,  when,  1947f 
elections,  how  often  held,  1947c 
elections,  place  of,  1947h 
excessive  number  votes,  1947g 
failure  to  attend  meetings,  1947k 
form  of  ballot,  1947g 
fractional  vote  not  recognized,  1947g 
independent  nominations,  1947d 
inspectors  of  elections,  how  appointed,  1947e 
lists  of  policy  holders,  1947d 
mailing  of  ballot,  1947g 
meetings  of  directors,  when  held,  1947k 
nomination  by  directors,  1947e 
nomination  by  policy  holders,  1947e 
nominee  entitled  to  be  present  at  canvass,  19471 
nomination  for  directors,  1947e 
officer  assisting  other  nominations,  penalty,  1947e 
officers,  qualifications,  1947c 
other  papers  not  inclosed  with  ballot,  1947f 
other  question,  ballot  for,  1947f 
person,  vote  in,  1947g 
place  of  elections,  1947h 
policy  holders'  list,  1947d 
policy  number,  one  specified  on  ballot,  1947g 
policy  holder  to  have  ballot,  when,  1947f 
policy  holder,  who  is,  1947c 
polls,  open  when,  1947h 
resignation  of  nominee,  1947e 
salaries,  vote,  notice,  1947r 
separate  ballot,  other  question,  1947f 
terms,  who  elected  to  longest,  19471 
tie,  inspectors  to  decide  by  lot,  19471 
vacancy  filled  only  until  next  election,  1947c 
vacancy  in  nomination,  how  filled,  1947e 
vacation  of  office  by  director,  1947k 
validity  of  policy  not  admitted  by  mailing  ballot,  1947J 
vote,  who  entitled  to,  1947c 
votes,  number  to  each  policy  holder,  1947g 
witness  required  on  ballot,  1947g 
Life  companies,  foreign, 
see  life  companies 
admission,  1953 
attorney,  appointment,  1953 

charter,  copy  of  filed  before  doing  business,  1953 
license,  expiration  of,  1916 
license  fee,  1220 


LIFE  TO  LLOYDS.  212 


Life  companies — ContiBiued. 

process,  service  made  upon  attorney,  1953 

statement  filed  before  doing  business,  1953 
Life  companies  from  foreign  countries, 

valuation,  1950b 

deposit,  1950b 
Life  estates,  see  future  estaytes 
Life  insurance,  classification,  1897  (3) 
Lightning 

see  risks;  1897  (1) 
Lightning,  risk 

fire  companies,  1945c 

standard  fire  policy,  1941 — 47 
Lightning,  what  included  by,  standard  fire  policy,  1941 — 47 
Limitation, 

see  expenses 

see  investments 

see  risk 

liability  mutual  companies,  1897c 

policy  fee,  city  and  village  mutuals,  1941 — 7m 

risk,  kind,  mutual  companies,  1897c 

territory,  mutual  companies,  1897c 
Limitation  of  action,  see  action 
Limitation  of  liability, 

see  directors 

see  members 
Limitation,  time  for  notice  of  injury,  casualty  companies,  1966 — 49a 
Limitation  of  dividends,  1906,  1906a 

Limitation  of  expense,  casualty  company,  fidelity  bond,  1966 — 38 
Limitation  of  liability  of  underwriters,  Lloyd's  marine  insurance,  1978k 
Limitation  of  premium,  casualty  company,  fidelity  bond,  1966 — 36 
Limitation  of  surplus,  domestic  fire  mutuals,  1942 — 1 
Limited  mutual,  in  name,  1897b 

Lists  of  policyholders,  life  companies,  domestic  mutual,  1947d 
Literature,  misleading,  1946a,  1946b,  1946c 
Live  stock  companies, 

see  casualty  companies 
Live  stock  insurance,  classification  1897  (14) 
Live  stock  mutuals,  1941g 
Lloyd's  insurance, 

agent,  resident,  1945g 

attorney,  resident,  1945g 

manufacturing  plants,  1945g 

office,  location,  1945g 

stock,  1945g 
Lloyd's  marine  insurance,  1978f  to  1978m 

see  marine  companies  ^ 

attorney  for  service  of  process,  19781 

attorney  to  transact  business,  1978g 

expiration  of  license,  1978 — 1 

examination,  1978J 

fire  risk,  may  assume,  1978f 

first  payment,  1978g 

license  fee,  amount  and  payment,  1978J 

license,  revocation,  1978m 

license  to  by  commissioner,  1978  1 

limitation  of  liability  of  underwriters,  1978k 

members,  minimum,  1978f 

marine  risk,  may  assume,  1978f 

office  in  state,  1978h 


213  LLOYDS  TO  MEETING.  L 

Lloyd's  Marine  Insurance— Continued. 

reserve  fund,  1978g 

risks,  may  assume  marine  and  fire,  1978f 

service  on  attorney,  1978i 

underwriters,  liability,  1978k 

underwriters,  list  of  furnished  commissioner,  1978h 
Loading.  life  companies,  1946x 
Loading,  limitation,  life  companies,  1950m 
Loan  companies,   bankers'   casualty  mutuals,   may  do  business  with 

1966—84 
Loans,  life  companies,  report,  1954  (7) 
Local  agent,  reinsurance  not  to  be  signed  by,  1919g 
Local  board  of  underwriters,  may  make  rates,  1943b 
Loss,  see  certificate 

Loss,  adjustment  and  payment,  state  insurance  fund,  1978c 
Loss,  defined,  standard  fire  policy,  1941 — 60 
Loss  during  default,  town  mutuals,  1935 
Loss,  loan  to  pay,  town  mutuals,  1935 
Loss,  realty,  face  of  policy,  1943 
Loss,  standard  fire  policy,  1941 — 55 
Loss,  arbitrators, 

town  mutuals,  1934 
Losses  outstanding,  life  companies,  1954  (13) 
Losses,  when  paid 

standard  fire  policy,  1941 — 57 

state  insurance  fund,  1978c 
Lumber  dealers'  mutuals,  repeal,  by-laws,  1941g 
Magistrate's  certificate,  1945d 
Mailing  clerk,  commissioner  to  appoint,  1967a 
Mailing  of  ballot,  life  companies,  domestic  mutual,  1947g 
Mailing  registered  notice  sufficient,  casualty  companies,  1966 — 49a 
Manufacturing  establishment,  operation,  standard  fire  policy,  1941 — 46 
Manufacturing  plants,  Lloyd's  insurance,  1945g 
March  1,  report  by  insured  of  unauthorized  insurance,  1219m 
Marine  companies, 

see  fire  and  marine  companies,  domestic 

see  Lloyd's  marine  insurance 

see  marine  companies,  domestic 

see  reinsurance  companies 

annual  report,  1920 

license  fee,  1219 
Marine  companies,  foreign,  retaliatory  laws,  1221 
Marine  insurance, 

see  fire  and  marine  companies 

see  Lloyd's  insurance 

see  Lloyd's  marine  insurance 

classification,  1897  (2) 
Marine  risks,  Lloyd's  marine  insurance,  1978f 
Marine  risks,  prohibited,  life  companies,  domestic,  1951 
Market  value,  stocks  and  bonds,  investment,  1903 
Married  woman,  insurance  payable  to  exempt,  2982 — 19 
Mayor,  fee  for  reporting  fires  to  state  fire  marshal,  1946q 
Mayor,  to  investigate  fires  under  direction  of  state  fire  marshal,  19461 
McClintock's  mortality  tables,  valuation,  annuities,  1950d 
Mechanics,  employment,  standard  fire  policy,  1941 — 46 
Medical  examinations,  life  companies,  1950n 

Medical  examination  on  organization,  mutual  benefit  societies,  1955a  (1) 
Meeting,  animal, 

city  and  village  mutuals,  1941 — 2 

fire  companies,  domestic  mutuals,  1942 — 1 

town  mutuals,  1928,  1929 


MEETINGS  TO  MUTUAL.  214 

Meetings,  directors, 
absence,  1947k 

when  held,  life  companies,  domestic  mutuals,  1947k 
Meeting,  first,  domestic  corporations,  1773 

life  companies,  domestic,  1947  (4) 
Members, 

corporations,  mutual  companies,  1897g 

during  organization,  mutual  companies,  1897c 

representation,  town  reinsurance,  mutuals,  1941a — 2 

town  reinsurance  mutuals,  1941a — 4 
Members,  insurance  exempt,  mutual  benefit  societies,  2982 — 19 
Members,  minimum, 

domestic  companies,  18971 

life  companies,  domestic,  1947  (3) 

Lloyd's  marine  insurance,  1978f 

mutual  benefit  societies,  1955a  (1) 
Members  of  mutual  benefit  society,  fraud  in  becoming,  4575e 
Members,  residence,  town  mutuals,  1939 
Members,  who  are, 

city  and  village  mutuals,  1941 — 7 

town  mutuals,  1933 
Messenger,  commissioner  to  appoint,  1967a 
Method,  accumulation,  reserves,  1948m  (1) 
Military  power,  excepted  risk,  standard  fire  policy,  1941 — 47 
Millers'  and  Manufacturers'  mutuals,  repeal,  by-laws,  1941g 
Milwaukee  agents,  1946 
Minimum  risks  outstanding, 

see  risks,  minimum  outstanding 
Minor,  insurance  on  exempt  from  execution  when,  2982 — 19 
Misrepresentation,  1946a — 1946f 

life  companies,  1946f 

standard  fire  policy,  1941 — 45 

warranty,  4202m 
Modified  preliminary  term, 

see  valuation 
Mortality  charge,  defined,  life  companies,  1946x 
Mortality  savings,  report,  life  companies,  1950n 
Mortality  table,  element  in  mortality  charge,  life  companies,  1946x 
Mortality  table  for  calculating  future  estates,  3871a 
Mortality  table,  valuation  life  policies,  1950,  1950c 
Mortgagee,  rights,  standard  fire  policy,  1941 — 53 
Mortgage  loans,  life  companies,  report,  1954  (6) 
Mortgage  loans,  Wisconsin,  report,  life  companies,  1954  (35) 
Mortgages  on  real  estate,  investments,  1903 

life  companies,  domestic,  1951 
Municipal  bonds,  investments,  1903 

Municipal  bonds,  investments,  life  companies,  domestic,  1951 
Municipality  to  pay  expense  of  casualty  company  fidelity  bond,  1966 — 88 
Mutual  and  stock  policies, 

see  participating  and  non-participating  policies 
Mutual  beneficiary  association,  see  mutual  benefit  societies 
Mutual  benefit  societies,  1955a — 1955n 

accident  associations,  deposit,  1955a  (3) 

accident  business,  deposit  in  other  states,  1955a  (4) 

additional  information  to  commissioner,  1955h 

admission  of  foreign,  1955e 

age  at  which  insurance  granted,  1955d 

agent  acting  for  unlicensed,  4575c 

agents  of  excepted,  1977 

agent  acting  for  unauthorized,  4575d 

application  of  laws  to,  when,  1955j 


215  MUTUAL  BENEFIT  SOCIETIES. 


Mutual  benefit  societies — Continued. 

articles,  amendment,  notice,  1955b — 5 

articles  of,  when  filed,  1955b 

assessment  defined,  1955j 

attorney  general,  expenses  how  paid,  1955—1 

assessments  paid  from  guaranty  fund,  when,  1955m 

assessments  paid  from  emergency  fund,  when,  1955d 

assessment,  rate  of,  1955  (2) 

assets,  single  risk  not  to  exceed  one-tenth,  1955a— 1 

attorney  to  be  appointed,  1955f 

beneficiary,  who  may  be,  1955c 

certificate,  commissioner  to  issue,  1955b 

change  of  beneficiary,  1955c 

consent  of  beneficiary  not  required  to  change,  1955c 

definitions,  1955j 

deposit  of  accident  or  health  in  other  state,  1955a"  (4) 

deposit  of  guaranty  fund,  1955m 

disability  benefits,  how  provided  for,  1955a  (2) 

emergency  fund,  restored  when,  1955d 

emergency  fund,  what  may  be  maintained,  1955d 

estate,  insurance  in  may  be  payable  to,  1955c 

examination  of,  by  commissioner  on  request,  1955h,  19551 

execution,  moneys  due  members  in,  exempt  from,  2982 — 19 

expense  of  examination,  how  paid,  1955i 

foreign,  admission,  1955e,  1955f 

fraud  in  becoming  member,  4575e 

foreign,  service  of  process,  2637  (11) 

guaranty  fund,  1955m 

health  business,  deposit  in  other  state,  1955e  (4) 

insured,  moneys  due  to,  exempt  when,  2982 — 19 

insured,  who  may  be,  1955d 

laws  applicable  to,  1955: 

license  fee,  amount,  1955  1 

license  fee,  exceptions,  grand  lodge,  1955  1 

license  to  foreign,  expiration  of,  1955f 

license  of,  when,  1955h 

license,  revocation,  1955h,  1955k 

March  first,  annual  report  filed,  1955g 

March  first,  license  expires,  1955f 

married  woman,  insurance  payable  to,  exempt  when,  2982 — 19 

medical  examination  on  organization,  1955a  (1) 

members,  minimum,  1955a  (1) 

members,  insurance  exempt,  2982 — 19 

members,  fraud  In  becoming,  4575e 

minor,  insurance  on  life  of,  exempt  from  execution,  2982 — 19 

name  not  to  contain  individual  names,  1955n 

name,  similar,  license  refused,  1955f 

national  fraternal  congress  table  of  mortality,  1955a  (2) 

new  societies,  national  fraternal  congress  table,  1955a  (2) 

officers,  reorganization,  1955n 

organization  defined,  1955j 

organization,  1955a  (1),  1955b 

penalty,  agent  acting  for  unlicensed,  4575c 

penalty,  agent  for  unauthorized,  4575d 

penalty,  fraud  in  becoming  member  of,  4575e 

process,  service  on  foreign,  1955f 

rates  in  new,  1955a  (2) 

rates  to  provide  for  single  death  loss,  1955a  (1) 

receiver  of  accident  to  have  securities,  1955a  (3) 

reinstatement,  1955h 

reorganization,  1955n 


MUTUAL  TO  NON-RESIDENT.  216 

Mutual  benefit  societies— Continued. 

report,  annual,  blanks,  1955g 

report,  annual,  contents,  195og 

retaliatory  laws  against  foreign,  1955f 

risk,  single,  limited  to  one-tenth  assets,  1955a — 1 

secretary  of  state  to  certify  expenses,  1955k 

securities,  substitution  of,  accident,  1955a  (3) 

state  treasurer,  guaranty  fund  deposited  with,  1955m 

table  of  mortality  prescribed,  1955a  (2) 

unlicensed,  acting  as  agent  for,  4575c 

withdrawal  of  guaranty  fund,  1955m 

unauthorized,  agent  acting  for,  4575d 
Mutual  companies, 

see  city  and  village  mutuals 

see  fire  companies,  domestic  mutual 

see  fire  companies,  foreign  mutual 

see  insurance  companies 

see  life  companies,  domestic  mutual 

see  mutual  benefit  societies 

applications  for  insurance,  1897e 

articles,  1897c 

corporations  may  be  members,  1897g 

expenses,  limitation,  1901J 

liabilities  limited,  1897b 

limitation,  risk,  territory,  liability,  1897c 

limited  mutual  in  name,  1897b 

members,  corporations,  1897g 

membership  during  organization,  189 7e 

mutual  in  name,  1897b 

name,  1897b 

risks,  classification,  1901m 

risks,  policies,  1897a 
Mutual  fire  companies, 

policies,  term,  1901n 

agents  excepted,  1977 
Mutual  policies,  see  policies,  participating 

Mutual,  word  in  name,  1897b 

standard  fire  policy,  1942 
Name, 

change  of,  notice,  publication,  1774 

mutual  companies,  1897b 

mutual  benefit  societies,  1955f,  1955n 

stock  companies,  1897b 

town  mutuals,  1927 
National  convention  of  commissioners,  1972a 
National  fraternal  congress  table,  new  mutual  benefit  societies, 

1955a  (2) 
Neglect  of  insured,  excepted  risk,  standard  fire  policy,  1941 — 47 
Net  premium  in  excess  actual  premium,  life  companies,  1950 
Net  value,  how  computed,  life  companies,  1950 
Nomination,  see  directors 

Nominee  present  at  canvass,  life  companies,  domestic  mutual,  1947i 
Non-payment  of  judgment,,  suspension  of  business,  1974 
Non-participating  annuities  permitted,  1947o 
Non-participating  policies,  see  policies 
Non-participating  policies,  when  prohibited,  1947o 
Non-participating,  separate,  gain  and  loss,  exhibit,  life  companies, 

1953n 
Non-residents, 

See  directors 

see  members 


217  NORTHAMPTON  TO  OTHER.  N 

Northampton  table  of  mortality  for  future  estates,  3871  a 
Notice  from  municipal  officer  to  state  fire  marshal,  19461 
Notice  of  adding  territory,  town  mutuals,  1940 
Notice  of  assessment,  town  mutuals,  1935 
Notice  of  cancellation,  standard  fire  policy,  1941 — 52 
Notice  of  first  meeting,  domestic  life  companies,  1947  (4) 
Notice  of  injury,  casualty  companies,  1900 — 49a 
Notice  oi  loss, 

standard  fire  policy,  1941—44,  1941—55 

town  mutuals,  1934 
Notice  of  renewal  of  license,  life  companies,  1955 
Notice  of  revocation  of  license,  1917 

Notice  ojt  revocation  of  license,  by  commissioner,  publication,  3968 
Notice  of  violation  of  law,  comrnis^jiouor  to  give,  1972a 
Njlice  of  vote  on  salary,  life  oompaut^es,  domestic,  1947r 
Notice  to  agent,  standard  fire  policy,  1941 — 62 
Notice  to  commissioner,  mlsrepvesentation,  1946e 
Notice  to  policy  holders,  reinsurance,  life  companies,  1955—23 
Oath  of  commissioner,  1967 

Oaths,  secretary  may  administer,  town  rautuals,  1934 
Oaths,  state  fire  marshal  may  adnnnist<3r,  1946k 
Occupants,  change  of,  standard  fire  policy,  1941 — 46 
Office  location, 

Lloyd's  insurance,  1945g 

Lloyd's  marine  insurance,  1978ii 
Office  of  commissioner  in  capitol,  1966—67 
Office  of  state  fire  marshal,  location,  1946g 
Officers, 

banking  or  insurance  department,  acceptance  of  gift,  penalty,  4549n 

state,  acceptance  of  compensation,  penalty,  4594t 

life  companies,  domestic  mutual,  1947c 

town  mutuals,   1929 
Officers,  assisting  other  nomination  prohibited,  life  companies,  domestic 

mutual,  1947e 
Officers,  fee  for  reporting  fires,  state  fire  marshal,  1946q 
Officer's  fees,  service  at  request  of  state  fire  marshal,  1946n 
Officers,  misrepresentation,  life  companies,  1946f 
Officers  of  reorganized  mutual  benefit  societies,  1955n 
Officers,  penalty  for  neglect  to  comply  with  law,  state  fire  marshal, 

1946m 
Operation  of  law,  loss  by  excepted,  standard  fire  policy,  1941 — 49 
Option  of  company,  repair,  standard  fire  policy,  1941 — 44 
Order  approving  reinsurance,  unanimous,  life  companies,  1955 — 24 
Order  of  commissioner,  reinsurance,  life  companies,  1955 — 25 
Order  to  repair  or  remove,  dangerous  premises,  state  fire  marshal,  19461 
Ordinary  business,  separate  exhibit,  life  companies,  1953n 
Organization, 

insurance  companies,  1896,  1897 

jewelers  mutuals,  1941 — 14m 

life  companies,  domestic,  1947 

members  during,  mutual  companies,  1897e 

mutual  benefit  societies,  1955a  (1)  1955b 

temporary  control,  first  meeting,  1773 

town  mutuals,  1927 

town  reinsurance  mutuals,  1941a — 1 
Organization,  defined,  mutual  benefit  societies,  1955J 
Other  business,  state  fire  marshal  not  to  engage  in,  1946o 
Other  casualty  insurance,  classification  1897  (15) 
Other  conditions,  retaliatory  laws,  1221 
Other  conditions,  standard  fire  policy,  1941 — 60 
Other  insurance,  standard  fire  policy,  1941—46,  1941—47,  1941—58 


OTHER  TO  POLICIES.  218 

Other  papers  not  inclosed  with  ballot,  life  companies,  domestic  mutual, 

1947f 
Other  question,  ballot  for,  life  companies,  domestic  mutual,  1947f 
Owner,  see  insured 

Ownership  of  ground,  standard  fire  policy,  1941 — 46 
Ownership  of  risk,  standard  fire  policy,  1941 — 46 
Paid    up     insurance    excepted,     annual     dividends,     life    companies, 

1952b 
Paid  up  insurance,  policy  provision,  1948m  (4) 
Participating  business,  separate  exhibit,  1953n 
Participating  policies,  see  policies 
Parties, 

see  action 

see  fire  department  dues 

see  forfeiture 
Patent,  see  certificate 
Penalties,  fire  company,  foreign,  1919e 
Penalties,  retaliatory  laws,  1221 
Penalty,  see  license 

accepting  gift,  4549m,  4549t 

agent  acting  for  unlicensed  mutual  benefit  society,  4575c 

agent  acting  without  license,  1976 

agent  for  unauthorized,  mutual  benefit  societies,  4575d 

burning  to  injure  insurer,  4405 

commissioner  accepting  gratuities,  1968 

contempt  before  state  fire  marshal,  1946k 

discrimination,  life  companies,  1955o 

fraud  in  becoming  member  of  mutual  benefit  society,  4575e 

fraud  on  life  company  absconding,  4438e 

misrepresentation,  1946c 

neglect  of  foreign  fire  company  to  file  annual  report,  1920 

neglect  of  foreign   fire   company   to   reply  to   commissipner's  in- 
quiry, 1920 

neglect  to  comply  with  order  to  repair  or  remove,  state  fire  mar- 
shal, 1946—1 

officer  or  employee  of  state  accepting  compensation,  4549t 

placing  risk  in  unauthorized  company,  1919f 

standard  fire  policy,  1941 — 65 

violation  insurance  laws,  1955o — 5 

violation  of  law,  reinsurance  life  companies,  1955 — 26 
Personal  property,  see  powers 
Personal    property    of    insurance    companies    exempt    from    taxation, 

1038 
Petroleum,  standard  fire  policy,  1941 — 46 
Phosphorus,  standard  fire  policy,  1941 — 46 
Plate  glass  insurance,  classification,  1897  (11) 
Plate  glass  mutuals,  repeal,  by-laws,  1941g 
Pledge  of  bonds,  investments,  life  companies,  domestic,  1951 
Pledge  of  stock,  investments,  1903 
Policies, 

action  on,  joinder  of  insurance  companies,  2609a 

assignment  by  married  woman,  2347b 

cash  value  measure  of  loss,  1943a 

co-insurance  clause,  1493a 

contents,  mutual  or  stock,  1942 

contents,  time  for  notice  of  injury,  1966 — 49a 

loan  on,  life  companies,  domestic,  1951 

participating  and  non-participating,  1947o 

to  indicate  whether  mutual  or  stock,  1942 


219  POLICIES  TO  PREMIUM.  p 

Policies — Continued. 

valuation,  life  companies,  1948,  1950 

writing  after  discontinuance,  life  companies,  1949 
Policies,  contents, 

mutual  companies,  1897c 

hail,  separate,  1897a 

separate  risks,  1897a 

term,  mutual  fire  companies,  1901n 

town  mutuals,  1932 
Policy,  approval,  town  mutuals,  1932 
Policy,  defined,  life  companies,  1946x 
Policy  not  to  specify  where  actions  brought,  1975 
Policy  to  contain  name  on  first  page,  1942 
Policy,  to  express  entire  contract,  life  companies,  1955o 
Policy,  to  specify  time  for  notice  of  injury,  casualty  companies 

1966— 49a 
Policy  anniversary,  defined,  life  companies,  1946x 
Policy  fee,  city  and  village  mutuals,  1941— 7m 
Policyholder, 

ballot,  domestic  mutual  life  companies,  1947f 

copy  application  on  request,  life  companies,  1953b 

may  request  statement  deferred  dividend,  life  companies,  19521 

notice,  reinsurance,  life  companies,  1955 — 23 

lights  in  surplus,  stock  life  companies,  1847p 

who  is,  life  companies,  domestic  mutual,  1947c 
Policyholders'  lists,  domestic  mutual  life  companies,  1947d 
Policy  loans,  Wisconsin,  life  companies,  1954  (34) 
Policy  number,  one  specified  on  ballot,  life  companies,  domestic  mu- 
tual, 1947g 
Policy  provision, 

benefits  equivalents,  1948m  (4) 

extended  insurance,  1948m  (4) 

interest  rate,  1948m  (1) 

mortality  table,  1948m  (1) 

paid  up  insurance,  1948m  (4) 

premium  loan,  automatic,  1948m  (3) 

premium,  separate,  1948m  (2) 

premium,  separate,  application  may  state,  1948  (2) 

reserve,  method,  1948m  (1) 

term  insurance  excepted,  1948m  (4) 
Policy,  warranty  in,  4202m 
Policy  year,  defined,  life  companies,  1946x 
Political  contributions,  statement,  life  companies,  1953d 
Polls,  life  companies,  domestic  mutual,  1947h 
Preliminary  term,  see  valuation 
Premises,  view  by  state  fire  marshal,  1946k,  1946  1 
Premium,  cash  first,  life  companies,  domestic,  1947  (3) 
Premium  credits  to  state  insurance  fund,  1978b 
Premium, 

annual,  basis  of  limitation  of  liability,  1897c 

deficient,  valuation,  1950  (2) 

defined,  life  companies,  1946x 

expense  provision  and  limitation,  1950m  to  1950t 

limitation  of  loading,  life  companies,  1950m 

on  fidelity  bond  casualty  company  chargeable  as  disbursement, 
1956—36 

return,  standard  fire  policy,  1941 — 52 

separately  stated,  policy  provision,  1948m  (2) 

standard  fire  policy,  1941—43,  1943a 

tax  on  for  state  fire  marshal,  1946n 


PREMIUM  TO  RECORDS.  220 

Premium  notes,  1944,  1945 

life  companies,  1954  (15) 

report  to  show,  fire  companies,  1920 

void  by  insolvency,  1945 

wording,  1944 
Premiums,  report,  life  companies,  1954  (15) 

Premiums,  reserve  liability  not  less  than  50  per  cent,  casualty  com- 
panies domestic,  1966 — 46 
President,  see  officers 

Prima  facie  evidence,  misrepresentation,  1946c 
Printed  form,  standard  fire  policy,  1941 — 64 
Privilege  of  witness,  life  companies,  1955o 
Prizes  prohibited,  life  companies,  1950s 
Process,  see  service 
Process,  service  of 

attorney,  fire  companies,  1919 

attorney,  life  companies,  foreign,  1953 

hail  insurance  companies,  foreign,  1966 — 1 

insurance  corporation,  2637  (9),  (10),  (11) 

mutual  benefit  societies,  foreign,  1955f 
Proof  of  loss,  standard  fire  policy,  1941 — 44,  1941 — 55 
Proportionate  liability,  standard  fire  policy,  1941 — 54 
Proxy,  see  vote 

Proxies,  existing  invalidated,  1760m 
Publication  annual  report,  life  companies,  1954 

names  of  companies  by  commissioner,  1971 

notice  of  change  of  name,  1774 

notice  of  revocation  of  license  by  commissioner,  1968 

order  for  hearing,  reinsurance,  life  companies,  1955 — 23 
Public  buildings,  insured  only  by  state  insurance  fund,  1978a 
Purposes,  insurance  companies,  1897 
Qualifications,  see  directors,  eligibility 

Railway  mortgage  bonds,  investments,  life  companies,  domestic,  1951 
Rates,  combination  prohibited,  fire  or  marine  companies,  1943b 
Rates,  mutual  benefit  societies,  new,  1955a 

Rates  to  provide  for  single  death  loss,  mutual  benefit  societies,  1955  (1) 
Railroad,  rolling  stock  and  property  in  transit,  1919a 
Real  estate, 

see  powers 

see  valued  policy 

fire  companies,  domestic,  1902 

marine  companies,  domestic,  1902 

report,  life  companies,  1954  (5) 
Realty  insurance,  valued  policy,  1943 
Rebating,  see  discrimination,  1943  1,  1955o 
Rebating,   evidence  excluded  after  death   of  insured,   life  companies, 

19550 
Receipt  to  contain  name  on  first  page,  1942 
Receiver, 

action  on  assessment,  foreign  companies,  1945b 

insolvent  companies,  3219 

re-insurance,  casualty  companies,  1966 — 48 
Receiver  may  reinsure,  casualty  companies,  domestic,  1966 — 48 
Receiver  of  accident  mutual  benefit  societies  to  have  securities,  1955a 

(3) 
Receiver,  powers  of,  3219 
Receivers  to  make  reports,  1921 

Recording,  see  articles  recorded  with  register  of  deeds 
Record  of  fires,  state  fire  marshal,  19461 
Record  of  prosecutions  for  arson,  state  fire  marshal,  1946J 
Records,  town  mutuals,  1929 


221  RECORDS  TO  REMOVAL.  R 

Records  of  valuation,  1950  (8) 

Referees,  see  arbitrators 

Referees  to  adjust  losses,  town  mutuals,  1934 

Reference  in  subsequent  law,  1219  (2) 

Registered  mail,  notice  by  sufficient,  casualty  companies,  1966— 49a 

Registered  mail,  service  of  demand  by,  life  companies,  1955o 

Reinstatement  of  mutual  benefit  societies,  19551i 

Reinsurance,  1914a,  1919d  to  1919g,  1955—21,  1955—26 

Reinsurance  company,  to  pay  tax,  when,  1219 

Reinsurance, 

deducted  to  ascertain  maximum  risk,  1898 

disability  company,  notice,  hearing,  1955 — 23m 

domestic  life  and  casualty  companies,  1955—21  to  1955 — 26 

fire  companies,  1919b 

fire  or  marine  companies,  1918 

life  companies,  1955 — 21 

town  mutuals,  1931a 

town  reinsurance  mutuals,  1941a — 1  to  1941a — 4 
Reinsurance  agreement,  standard  fire  policy,  1941 — 58 
Reinsurance  authorized,  fire  insurance  companies,  1905a 
Reinsurance  by  receiver,  domestic  casualty  companies,  1966 — 48 
Reinsurance  companies,  1914a 

admission,  1914a 

fees  and  taxes,  1914a 

organization,  1914a 
Reinsurance,  need  not  be  approved  by  local  agent,  1919g 
Reinsurance,  petition  to  commissioner,  life  companies,  1955 — 22 
Reinsurance,  report  by  foreign  fire  companies,  1919d 
Reinsurance,  withdrawal  of  deposit  by  foreign  company,  1918 
Reinsurance  life  companies, 

approval  by  commissioner,  1955 — 22 

attorney  general,  member  of  commission,  1955 — 24 

commissioner,  issue  subpoena,  1955 — 24 

commissioner,  member  of  commission,  1955 — 24 

commissioner,  no  compensation  to,  1955 — 25 

compensation,  none  to  commissioner,  1955 — 25 

compensation,  none  to  officer  of  company,  1955 — 25 

compensation,  none  to  state  employee,  1955 — 25 

department  of  insurance,  statement  and  order  filed  with,  1955 — 25 

expenses,  company  to  pay,  1955 — 25 

governor,  member  of  commission,  1955 — 24 

hearing,  commissioner  to  fix,  1955 — 23 

modification  by  commissioner,  1955 — 22 

notice  to  policy  holders,  1955 — 25 

order  approving,  unanimous,  1955 — 24 

order  of  commissioner  filed,  1955 — 25 

officer  of  company,  no  compensation  to,  1955 — 25 

penalty,  violation  of  law,  1955—26 

petition  to  commissioner,  1955 — 22 

policy  holders  to  have  notice,  1955 — 23 

publication  order  for  hearing,  1955 — 23 

single  risk,  fractional  part,  1955 — 21 

statQ  employee,  no  compensation  to,  1955 — 25 

statement  expenses  filed,  1955 — 25 

unanimous  approval  by  commission,  1955 — 24 

witnesses,  commissioner  may  summon,  1955 — 24 
Reinsuring  company,  duty  on  withdrawal  from  state,  fire  companies, 

1905a 
Release  from  liability,  casualty  companies,  fidelity  bond,  1966—35 
Removal  of  causes,  conditions  in  contracts,  1975 


REMOVAL  TO  RIOT.  222 

Removal  of  causes, 

fire  companies,  foreign,  1915  (2),  1917 

life  companies,  1947  (5) 
Removal' of  property,  standard  fire  policy,  1941—54 
Removal,  state  fire  marshal,  1946g 
Renewal  of  license,  prohibited  when,  1947  (5) 
Renewal,  standard  fire  policy,  1941 — 51,  1975 
Reorganization  of  assessment  life  companies,  1955y — 2 
Re  Tganization  of  mutual  benefit  societies,  1955n 
Repair,  option  to,  standard  fire  policy,  1941 — 44 
Repeal,  see  laws  repealed 

Replace,  option  to,  standard  fire  policy,  1941 — 44 
Reports,  1920,  1921,  1953n,  1954,  1955 
Report,  annual, 

city  and  village  mutuals,  1941—12 

fire  and  marine  companies,  1920 

fire  companies,  foreign,  1915  (5) 

life  companies,  1950n,  1954 

mutual  benefit  societies,  1955g 

policy  fee,  city  and  village  mutuals,  1941 — 7m 

town  mutuals,  1938 
Report,  annual  commissioner  to  governor,  1946p 

commissioner  to  provide  form,  1971 

gain  and  loss  exhibit,  1953n,  1954,  1955 

insured  to  have  on  request,  life  companies,  1952d 
Report  by  insurance  corporation  to  commissioner,  1966 — 67 
Report,  expenses,  first  year,  life  companies,  1950n 
Report,  expenses,  form,  life  companies,  1950n 
Report  of  commissioner,  contents,  1972b 

Report  of  deferred  dividend  apportionment,  life  companies,  1952h 
Report  of  officers,  church  insurance  companies,  1941 — 27 
Report,  receivers  to  make,  1921 

Report,  reinsurance  by  foreign  fire  companies,  1919d 
Report,  rights  of  stockholders  and  policyholders  in  surplus,  life  com- 
panies, 1947p 
Reserve, 

see  valuation 

computation,  to  determine  surplus,  life  companies,  1952 

defined,  life  companies,  1946x 
Reserve  fund, 

see  emergency  fund 

see  guaranty  fund 

Lloyd's  marine  insurance,  1978g 

report,  life  companies,  1954  (29) 
Reserve  liability,  life  companies,  1950 
Resident  agent,  see  agent 

Resignation  of  nominee,  life  companies,  domestic  mutual,  1947e 
Retail  liquor  dealers  mutuals,  1941 — l4t 
Retaliatory  laws,  1221 
Retaliatory  laws, 

foreign  insurance  companies,  1221 

mutual  benefit  societies,  foreign,  1955f 
Return  of  premium,  see  premium 
Return  premium,  see  short  rate 
Revocation  of  license,  see  license 
Riders, 

coinsurance  clause,  1943a 

consent  of  insured,  1943a 

lightning,  1941—47 

mortgagee's  interest,  1941 — 53,  1941 — 63 
Riot,  excepted  risk,  standard  fire  policy,  1941 — 47 


223  RISK  TO  SPECIAL.  R 

Risk,  amount  property,  standard  fire  policy,  1941—43 
Hisk,  approved  by  resident  agent,  1919a 
Risk,  maximum  single,  defined,  1898 
Risks, 

city  and  village  mutuals,  1941—5 

classification,  town  mutuals,  1932 

classification,  mutual  companies,  1901m 

excepted,  standard  fire  policy,  1941 — 47 

extra  hazard,  standard  fire  policy,  1941—46  to  1941—51- 

lightning,  hail  and  cyclone,  fire  companies,  1945c 

limitation  below  cash  value  prohibited,  1943a 

location,  town  mutuals,  1931 

Lloyd's  marine  insurance,  marine  and  fire,  1978f 

minimum  outstanding,  1898d 

permitted  in  one  company,  1897a 

misrepresentation,  1946c 

realty  face  of  policy,  1943 

state  insurance  fund,  1978b 

town  mutuals,  1931 

town  reinsurance  mutuals,  1941a — 3 

transfer  to  unlicensed  company  prohibited.  1919 

what  not  assumed,  standard  fire  policy,  1941 — 49 

what  specifically  assumed,standard  fire  policy,  1941—49 
Risks,  single,  1898 

town  mutuals,  1931 

assets,  proportion,  mutual  benefit  societies,  1955a — 1 
Rolling  stock  of  railroad,  local  agent  need  not  approve  risk,  1919a 
Safety  clause,  see  guaranty  surplus  fund 
Salaries,  limitation,  domestic  life  companies,  1947r 
Salaries  over  $3,000.00,  report,  life  companies  1954  (25) 
Salaries,  state  fire  marshal.  1946n 
Schedules  of  rates  open  to  inspection,  1943b 
Scrip  dividends  excepted,  1906,  1906a 
Secretary,  see  ofiicers 
Secretary  of  state,  appointments  by  commissioner,  filed  with,  1977a 

audit  expenses  of  commissioner  at  convention.  1972a 

certify  expenses,  mutual  benefit  societies,  1955k 

reports,  state  insurance  fund,  1978d 
Securities, 

see  deposit 

see  investments 
Securities,  substitution,  accident  mutual  benefit  societies,  1955a  (3) 
Select  and  ultimate,  see  valuation,  1950 
Separate    department,     participating    and    non-participating    policies, 

19470  (5) 
Services,  prohibited  contract,  life  companies,  1955c 
Service  of  demand  for  forms,  life  companies,  1955c 
Service  of  process,  see  attorney  for  service  of  process 
Service  of  process,  domestic  insurance  companies,  2637  (6) 
Service  of  process,  mutual  benefit  societies,  foreign,  2637  (11) 
Session  laws,  see  table  preceding  index 
Setting  fires,  see  arson 
Short  rate,  standard  fire  policy,  1941 — 52 
Single  risk,  see  risk,  single 
Single  investment,  see  investment 
Size  of  paper,  standard  fire  policy,  1941 — 64 
Son,  married  woman  may  insure,  2347 
Special  guaranty  fund,  life  companies,  1947  (3) 
Special  reserve  fund,  see  guaranty  surplus  fund 
Special  surplus  fund,  domestic  companies,  1897s 


SPRINKLER  TO  STANDARD.  224 

Sprinkler  leakage,  1897  (1) 

see  risks 

fire  companies  may  write,  1945c 

insurance,  classification,  1897  (12) 
Standard  fire  policy,  1941—42  to  1941—65 

abandonment,  none,  1941 — 44 

agent  may  countersign,  1941 — 64 

application,  part  of  contract,  1941 — 50 

appraisal,  1941 — 44 

appraisement,  1941—56 

arbitrators,  1941—56 

assignment  before  loss  avoids,  1941 — 46 

assignment,  form,  1941 — 63 

assignment  of  policy,  1941 — 46 

books  of  account,  1941 — 55 

cancellation,  1941 — 52 

care  of  property  after  fire,  1941 — 47 

cash  value,  liability,  1941 — 44 

certificate  of  magistrate,  1941 — 55 

change  in  interest  avoids,  1941 — 46 

chattel  mortgage,  1941 — 46 

circuit  judge  to  appoint  umpire,  1941 — 56 

civil  authority,  excepted  risk,  1941 — 47  • 

civil  war,  excepted  risk,  1941 — 47 

co-insurance  clauses,  1943a 

commissioner  to  prepare  printed  form,  1941-^42 

concealment,  1941 — 45 

conditions,  waiver,  1941 — 62 

consent  of  insured  to  co-insurance  clause,  1943a 

consent  by  company  to  assignment,  1941 — 63 

contents,  additional,  1941 — 64 

contract  contrary  to  law  binds  company,  1941 — 55 

damage,  1941—60 

death  of  insured,  1941—48 

endorsement,  1941 — 46 

examination,  1941 — 55 

expenses,  appraisers,  1941 — 56 

explosion,  damage  by,  1941 — 47 

explosives,  1941 — 46 

fallen  building,  1941—48 

fire,  risk  of,  1941—43 

foreclosure,  1941 — 46 

forfeiture,  not  waived,  1941 — 57 

form,  commissioner  to  prepare,  1941 — 42     , 
.  formal  part,  1941—43 

fraud,  1941—45 

illuminating  gas,  1941—46  ^ 

increase  of  hazard  avoids,  1941 — 46 

indorsements,  forms,  1941—63 

insured,  defined,  1941—60 

insured,  duties  of,  1941—55 

insurrection,  excepted  risk,  1941—47 

invasion,  excepted  risk,  1941 — 47 

inventory,  insured  to  make,  1941 — 55 

joint  policy,  1941—64 

knowledge  of  agent,  1941—62 

legal  representatives,  1941 — :60 

lightning,  risk  of,  1941—47 

lightning,  what  included  by,  1941—47 

loss,  1941—65 

Jogs,  aefijoad,  1941—60 


225  STANDARD  FIRE  POLICY. 

Standard   fife   policy — Continued. 

loss,  payable  when,  1941 — 57 

manufacturing,  establishment,  operation  of,  1941—46 

mechanics,  employment  of,  1941 — 46 

military  power,  excepted  risk,  1941 — 47 

misrepresentation,  1941 — 45 

mortgagee,  right  of,  1941 — 53 

mutual  in  name  when,  1942 

neglect  of  insured,  excepted  risk,  1941 — 47 

notice  of  cancellation,  1941 — 52 

notice  of  loss,  1941—44,  1941—55 

notice  to  agent,  1941 — 62 

occupants,  change  of,  1941 — 46 

open  policy,  1941—43,  1941—44 

operation  of  laws  loss  by  excepted,  1941 — 49 

option  of  company,  repair,  1941 — 44 

other  conditions,  1941 — 60 

other  insurance,  1941 — 46,  1941 — 47 

other  insurance,  agreements,  1941 — 58 

ownership  of  ground,  1941 — 46 

ownership  of  risk,  1941 — 46 

petroleum,  1941 — 46 
penalty,  1941—65 

phosphorus,  1941 — 46 

policy  to  contain  name  on  first  page,  1942 

premium,  1941 — 43 

premium,  returned,  1941 — 52 

printed  form,  1941 — 64 

proof  of  loss,  1941—44,  1941—55 

proportionate  liability,  1941 — 54 

receipt  to  contain  name  on  first  page,  1942 

reinsurance  agreement,  1941 — 58 

removal  of  property,  1941 — 54 

renewal,  1941 — 51 

repair,  option  to,  1941 — 44 

replace,  option  to,  1941 — 44 

rates,  establishment  of.  1943b 

required,  exceptions,  1941 — 64 

riot,  excepted  risk,  1941 — 47 

risk,  amount  property,  1941 — 43 

risk,  extra  hazard,  1941—46  to  1941—51 

risk,  on  what  must  be  specifically  assumed,  1941 — 49 

risk,  on  what  not  assumed,  1941 — 49 

risk,  what  excepted,  1941 — 47 

short  rate,  1941—52 

size  of  paper,  1941 — 64 

statement  by  insured,  1941 — 55 

stock  company  to  be  shown  on  first  page,  1942 

subrogation  of  company,  1941 — 59 

termination  by  fall  of  building.  1941—48 

theft,  excepted  risk,  1941—47 

time  of  payment,  1941 — 57 

time  of  payment  of  loss,  1941 — 44 

title,  change  of,  1941—46 

type,  1941—64 

umpire,  1941 — 56 

vacant  building,  1941 — 46 

value,  actual,  1941 — 49 

valued  policy,  realty,  1943 

value,  proportional  to  building,  1941 — 49 

view,  1941 — 55 


STANDARD  TO  STATE.  226 


Standard   fire   polcy — Continued. 

waiver  of  appraisal,  1941 — 56 

waiver  of  conditions  by  agents,  1941 — 62 

waiver,  none  of  forfeiture,  1941 — 57 

warranty,  application,  1941 — 50 
Standard  industrial  mortality  table,  valuation,  1950d 
Standard  policy,  exceptions, 

town  mutuals,  1941 — 64 
Standard  provisions,  see  policy  provisions,  1948m 
State  bonds,  investments,  1903 

State  bonds,  investments,  life  companies,  domestic,  1951 
State  buildings,  state  insurance  fund,  1978a 
State  fire  marshal,  1946g  to  1946q 

appointment,  1946g 

arrest  for  arson,  to  be  caused  by,  1946J 

assistants,  appointment  of,  1946h 

assistant  fire  marshal,  appointment,  1946g 

attorney,  one  deputy  to  be,  1946h 

chiefs  of  fire  departments,  when  to  receive  fees,  1946q 

clerks,  employment  of  by,  1946n 

confirmation,  1946g 

contempt  in  proceedings  before,  1946k 

deputy  fire  marshals,  appointment  of,  1946h 

district  attorney  to  be  furnished  evidence,  1946j 

duties,  19461 

February  fifteenth,  annual  report  made,  1946p 

fire  companies,  tax  for  1946n 

fire   department  chiefs,   when   to   receive   fee   for  reporting   fires, 
1946q 

fires,  fee  for  reporting,  1946q 

fires,  investigation,  19461 

governor,  annual  report  to,  1946p 

governor,  to  appoint,  1946g 

investigations  private,  1946k 

mayor,  fee  for  reporting  fires,  1946q 

mayor,  to  investigate  fires,  19461 

notice  from  municipal  oflicer  to,  19461 

oaths  administered  by,  1946k 

office,  where  held,  1946g 

oflacers,  fee  for  reporting  fires,  1946q, 

officer's  fees,  service  at  request  of,  1946n 

officer,  penalty  for  neglect  to  comply  with  law,  1946m 

order  to  remove  on  dangerous  premises,  1946  1 

other  business,  not  enga^^ed  in,  1946o 

penalty,  contempt  before,  1946k 

penalty,  neglect  to  comply  with  order  to  remove,  1946  1 

premises,  dangerous,  view  of,  1946  1 

premises,  view  of,  1946k 

premiums^  tax  on,  1946m 

record  of  fires,  19461 

record  of  prosecutions  for  arson,  1946J 

removal,  1946g 

report,  annual,  to  governor,  1946p 

salaries,  1946n 

state  not  liable  for  expense  in  excess  fund  from  tax,  1946n 

subpoena,  1946k 

surplus  fund,  tax  may  be  remitted,  1946n 

tax  on  fire  companies,  1946n 

tax  on  fire  companies  may  be  remitted  when,  1946n 

term  of,  1946g 


227  STATE  TO  STOCK.  S 

State  fire  marshal — ^Continued. 

testimony  taken  by,  1946j 

town  clerk  to  investigate  fires,  19461 

town  clerk,  fees  for  reporting  fires,  1946q 

vacancy,  how  filled,  1946g 

view  of  building,  1946k 

village  president,  fee  for  reporting  fires,  1946q 

village  president,  to  investigate  fires,  19461 

vouchers,  1946n 

witnesses,  fees  where  subpoenaed  by,  1940k 

witnesses  may  be  kept  separate,  1946k 
State  insurance  fund,  1978a  to  1978e 

appropriation  to  state  insurance  fund,  1978e 

copies,  reports,  filed  with  secretary  of  state,  1978d 

commissioner  to  adjust  loss,  1978c 

commission  to  value  risks  for,  1978h 

fire,  risk  of  carried  by,  1978b 

loss,  adjustment,  1978c 

payment  of  loss,  1978c 

premium  credits  to,  1978b 

public  buildings,  insured  only  by,  1978a 

risks  carried  by,  1978b 

secretary  of  state  to  have  copies  of  reports,  1978d 

state  buildings,  no  insurance  except,  1978a 

tornado,  risk  carried  by,  1978b 
State,  liability  limited,  state  fire  marshal,  expense,  1946n 
Statement,  see  report 

Statement  by  insured,  standard  fire  policy,  1941 — 55 
Statement  expenses  filed,  reinsurance,  life  companies,  1955 — 25 
Statement  filed  by  life  companies,  foreign,  before  doing  business,  1953 
Statement  of  financial  condition,  casualty  companies,  foreign,  1966 — 32 
Statement,  financial  condition,  fire  companies,  foreign,  1915  (3) 
Statement  required  of  surplus  and  apportionment,  life  companies,  1952c 
State  officer  or  employee 

see  employee 

see  officer 
State  to  pay  expense  of  casualty  company  fidelity  bond,  1966 — 37 
State  treasurer,  see  deposit 

State  treasurer,  bond  of  commissioner  filed  with,  1977 
State  treasurer,  bond  of  commissioner  to  report  receipts  to,  1972c 
State  treasurer  to  hold  deposits,  1973 
State  treasury,  forfeiture  paia  into,  3300 
Stationery,  commissioner  to  have,  1966 — 67 
Statutes,  see  table  preceding  index 

Steam  boiler  explosion  excepted,  risks  fire  companies  may  write,  1945c 
Steam  boiler  insurance,  classification,  1897  (6) 
Stenographers,  commissioner  to  appoint,  1967a,  170 
Stipulated  premium  life  companies,  1955 — 21 
Stock,  see  capital  stock 

Stock  and  mutual  policies,  see  participating  and  non-participating  pol- 
icies 
Stock  certificate  to  recite  lien  for  premium,  1904 
Stock  companies, 

see  fire  companies,  domestic  stock 

also  generally: 

see  casualty  companies,  domestic,  foreign 

see  hail  companies,  foreign 

see  insurance  companies, 

see  life  companies,  domestic,  foreign 

see  live  stock  companies,  domestic,  foreign 


STOCK  TO  TAX.  228 

Stock  companies — Continued. 

see  marine  companies,  domestic 

see  reinsurance  companies 

see  reinsurance  life  companies 

capital,  increase,  1908 

capital  required,  1897g 

name,  1897b 

risks,  policies,  1897a 

surplus  required,  1897g 
Stock  company,  policy,  first  page  to  show,  standard  fire  policy,  1942 
Stock,  domestic  life  company,  1947  (1) 
Stockholders, 

see  capital  stock,  impairment 

consent  to  increase  of  capital,  1908 

liability,  unlawful  dividend,  1906,  1966—44 

rights  of,  in  surplus,  life  companies,  1947p 

vote  on  dividend,  domestic  stock  fire  company,  1908,  1908a 
Stock,  see  capital  stock 
Stock  life  companies,  1955 — 21 
Stock,  Lloyd's  insurance,  1945g 
Stock,  market  value,  investment,  1903 
Stock  policies,  see  policies,  non-participating 
Stock,  prohibited  sale,  life  companies,  1955o 
Stock  to  be  paid  in,   directors  liable  until,  fire  companies,  domestic 

stock,  1901 
Stock,  transfer,  waiver  of  lien  for  premium,  1904 
Subpoena  by  state  fire  marshal,  1946k 
Substandard  industrial  mortality  table,  valuation,  1950d 
Suits, 

see  actions 

see  removal  of  causes 
Sum  insured,  defined,  life  companies,  1946x 
Summons, 

see  attorney  for  service  of  process 

see  process 

see  service  of  process 
Surety  bond,  see  fidelity  bond 
Surety,  casualty  companies  may  be,  1966 — 34 
Surety  company  excepted,  reinsurance,  risk,  1966 — 41 
Surety  companies  to  write  through  resident  agent,  1945e 
Suretyship  companies,  see  casualty  companies 
Surplus,  basis  for  single  risk,  city  and  village  mutuals,  1941—5 
Surplus  funds,  report,  life  companies,  .1954 — 29 

Surplus  required,  stock  companies,  1897g  ' 

Surplus,  how  estimated,  casualty  companies,  1966 — 44 
Surplus  in  fund,  tax  may  be  remitted,  state  fire  marshal,  1946n 
Surplus, 

life  companies,  1952  ^ 

limitation,  fire  mutuals,  domestic,  1942 — 1 

required  for  dividends  in  excess  of  ten  per  cent,  1906a 

rights  of  stockholders  and  policyholders,  life  companies,  1947p 

unapportioned,  life  companies,  1952a 
Survey,  see  application 
Suspension, 

city  and  village  mutuals,  1941 — 9 
Table  of  mortality, 

American  experience,  life  companies,  1950 

Fraternal  congress,  mutual  benefit  societies,  new,  1955a  (2) 

Northampton,  future  estates,  3871a 
Tax,  see  license  fees 
Tax  on  fire  companies,  state  fire  marshal,  1946n 


229  TAXATION  TO  TOWN.  T 

Taxation,  exemption  personal  property,  1038 
Taxes,  report,  life  companies,  1950n 
Taxes,  retaliatory  laws,  1221 
Tempest,  1897  (1) 

see  risks 
Terminal  reserves,  defined,  life  companies,  1946x 
Termination  by  fall  of  building  standard  fire  policy,  1941 — 48 
Term, 

see  directors 

see  policies 
Term  insurance,  excepted,  policy  provisions,  1948m   (4) 
Term  of  commissioner,  128 
Term  of  corporation, 

limitation  removed,  1941g  (4) 

life  companies,  1954  (3) 

town  mutuals,  1941n 
Term  of  directors,  who  elected  to  longest,  life  companies,  domestic 

mutual,  19471 
Term  of  state  fire  marshal,  1946g 

Territories,  domestic  life  companies  may  loan  in,  1951 
Territory,  additional,  vote,  town  mutuals,  1940,  1941 
Testimony,  state  fire  marshal  to  take,  1946J 
Theft,  excepted  risk,  standard  fire  policy,  1941 — 47 
Tie,  inspectors  to  decide  by  lot,  life  companies,  domestic  mutual,  19471 
Time  for  notice  of  injury,  policy  to  specify,  casualty  companies,  1966 

—49a 
Time  of  payment  of  loss,  standard  fire  policy,  1941—44 
Time  of  payment,  standard  fire  policy,  1941 — 57 
Title,  change  of.  standard  fire  policy,  1941 — 46 
Title  insurance,  classification,  1897   (8) 
Tornado,  see  cyclones 
Tornado,  risk, 

fire  companies,  1945c    • 

state  insurance  fund,  1978b 
Total  loss,  see  wholly  destroyed 

Town  clerk,  fee  for  reporting  fires  to  state  fire  marshal,  1946q 
Town  clerk  to  investigate  fires  under  direction  of  state  fire  marshal, 

19461 
Town  mutuals,  1927  to  1941 

annual  meeting,  1928 

annual  meeting,  place  of,  1929 

arbitrators,  loss,  1934 

ariticles,  form,  1927 

articles  and  amendments,  1927  (3) 

articles,  amendment,  territory,  1940 

articles,  filing,  1941n 

assessments,  1935 

assessment,  action  upon,  1936 

cancellation  of  policy,  1937 

commissioner  to  approve  policy,  1932 

commissioner,  report  filed  with,  1938 

commissioner  to  file  copies,  1927 

cyclone,  may  insure  against,  1931 

directors,  1928 

directors,  liability  for  neglect,  1936 

directors,  power  of.  1937 

directors,  terms  of,  1929 

excepted,  fire  marshal  tax,  1946n 

fees  of  treasurer,  1935 

license  fee,  none,  1219 

location  of  property  insured,  1931 


TOWN  TO  UNAUTHORIZED.  230 

Town  mutuals — Continued. 

loss,  arbitrators,  1934 

loss,  comniittee  on,  1934 

loss  while  in  default,  1935 

may  borrow  to  pay  loss,  1935 

meeting  may  authorize  cyclone  insurance,  1931 

members  non-resident,  1939 

members,  town  reinsurance  mutuals,  1941a 

members,  who  are,  1933 

name,  change  of,  1927 

notice  of  adding  territory,  1940 

notice  of  assessment,  1935 

notice  of  loss,  1934 

oaths,  secretary  may  administer,  1934 

officers,  1929 

organization,  1927 

penalty,  default  in  payment,  1935 

policies,  1932 

property  it  may  insure,  1931 

proxy,  who  may  vote,  1928 

records,  1929 

reinsurance,  1931a 

report  annual,  1938 

risks,  classification  of,  1932 

risk,  single,  1931 

term  of  duration,  no  limitation,  1941  n 

territory,  new  towns,  1940 

treasurer,  duties  and  bonds,  1930 

two-thirds  vote,  new  territory,  1940 

undertaking,  1933 

validating  provision,  1941n 

withdrawal  of  member,  1937  , 

Town  reinsurance  mutuals, 

directors,  1941a — 3 

members,  1941a — 4 

members,  representation,  1941a — 2 

organization,  1941a — 1 

risks,  1941a— 3 

town  mutuals,  members,  1941a — 4 
Town  to  pay  expense  of  casualty  company  fidelity  bond,  1966 — 38 
Trading  powers, 

fire  companies,  domestic,  1902 

marine  companies,  domestic,  1902 
Transacting  business, 

capital  subscribed  and  paid  in,  1773 

conditions,  domestic  companies,  18971 
Transacting  insurance,  conditions,  domestic  companies,  1897s 
Transfer  of  risk,  see  risk 

Transit,  property  in,  approval  of  risk  by  local  agent,  1919a 
Transportation,  loss  of  money  in,  risk,  bankers'  casualty  mutuals, 

1966—81 
Treasurer,  see  officers 
Treasurer,  bond,  fees 

city  and  village  mutuals,  1941—4 

town  mutuals,  1930 
Trustees,  see  directors 
Type,  standard  fire  policy,  1941 — 64 
Unapportioned  surplus,  life  companies,  1952a 
Unauthorized  companies,  1919f 
Unauthorized  insurance,  license  fees,  1219m 
Unauthori/ed  mutual  benefit  society,  agent  acting  for,  4575d 


231  UNDERTAKING  TO  VOTE.  U 

Undertaking,  town  mutuals,  1933 

Undertaking  in  justice  court  by  casualty  company,  1966 — 33a 
Underwriters,  liability  of,  Lloyd's  marine  insurance,  1978k 
Underwirters,  Lloyd's  marine  insurance,  list  of  furnished  commis- 
sioner, 1978 
United  States,  assets  in,  shown,  1946a 

United  States  bonds,  domestic  life  companies  may  invest  in,  1951 
~  Vacancy,  filled  only  until  next  election,  fire  companies,  domestic  mutual, 
1947c 
Vacancy,  how  filled,  state  fire  marshal,  1946g 
Vacancy  in  nomination,  how  filled,  life  companies,  domestic  mutual, 

19478 
Vacant  building,  standard  fire  policy,  1941 — 46 

Vacation  of  oflice  by  directors,  life  companies,  domestic  mutual,  1947k 
Validating  provision,  town  mutuals,  1941n 
Validation,  assessment,  city  and  village  mutuals,  1941 — 9m 
Validity  of  policy  not  admitted  by  mailing  ballot,  life  companies,  do- 
mestic mutual,  19471 
Valuation, 

annuities,  1950d 

certificate  of,  by  commissioner,  1950  (7) 

commissioner  to  make,  1950  (6) 

department  of  commerce  and  labor,  1950  (5) 

department  of  foreign  state,  1950  (4) 

disability  policies,  1950d 

exception,  policies  prior  to  1907 

expense  charge,  1950   (3j 

fee,  1950a 

industrial  policies,  1950d 

life  companies  from  foreign  countries,  1950b 

life  policies,  mortality  table,  1950c 

method  of  accumulation,  1948m  (1) 

policies,  basis,  method;  life  companies,  1950 

premium  deficient,  1950   (2) 
Valuation  of  future  estates  by   commissioner,   1087—13    (2),  1087—15 

(2),  3871a 
Valuation  of  other  states,  when  accepted,  life  companies,  1950 
Valuation  of  policies  of  assessment  life  companies,  1955y — 1,  1955y — 2 
Value,  actual,  standard  fire  policy,  1941 — 49 
Value,  proportional  to  building,  standard  fire  policy,  1941 — 49 
Valued  policy,  1943 

Verdict,  joinder  of  companies  as  defendants,  2609a 
Veterinary  surgeon,  live  stock  companies  may  provide,  1966 — 50 
View  of  building  by  state  fire  marshal,  1946k 
View,  standard  fire  policy,  1941 — 55 

Village  president,  fee  for  reporting  fire  to  state  fire  marshal,  1946q 
Village  president  to  investigate  fires  under  direction  of  state  fire  mar- 
shal, 19461 
Village  to  pay  expense  of  casualty  company  fidelity  bond,  1966 — 38 
Violation  of  insurance  laws,  penalty,  1955o — 5 
Vote,  each  member  one,  city  and  village  mutuals,  1941 — 2 
Vote,  each  member  one,  life  companies  .domestic  mutual,  1947g 
Vote,  in  person,  life  companies,  domestic  mutual,  1947g 
Vote,  proxy, 

city  and  village  mutuals,  1941 — 2 

town  mutuals,  1928 
Vote,  by  proxy,  existing  invalidated,  1760m 

Vote,  reduction,  capital  stock,  casualty  companies,  domestic,  1966 — 46 
Vote,  salary,  life  companies,  domestic,  1947r 
Vote,  who  may, 

life  companies,  domestic  mutual,  1947c 


VOTES  TO  YEAR.  232 


Votes,  excessive  number,  life  companies,  domestic  mutual,  1947g 

Vouchers,  state  fire  marshal,  1946n 

Waiver  cf  appraisal,  standard  fire  policy,  1941 — 56 

Waiver,  failure  to  attach  application  by,  1945a 

Waiver,  none  of  forfeiture,  standard  fire  policy,  1941 — 57 

Waiver  of  conditions  by  agents,  standard  fire  policy,  1941 — 62 

Waiver  of  defense,  failure  to  furnish  copy  application,  life  companies, 

1953b 
Warranty,  application  when,  standard  fire  policy,  1941 — 50 
Warranty,  application,  4202m 

policy,  4202m 
Warranty  by  insured,  in  application,  1941 — 50,  1945a 
Wholly  destroyed,  standard  policy,  1943 
Withdrawal, 

city  and  village  mutuals,  1941 — 11 
town  mutuals,  1937 
Withdrawal  charge,  see  short  rate 
Withdrawal  of  deposit,  1973 

Withdrawalof  guaranty  fund,  mutual  benefit  societies,  1955m 
Witnesses,   commissioner   may   summon,    reinsurance   life   companies, 

1955—24 
Witnesses  may  be  kept  separate,  state  fire  marshal,  1946k 
Witness,  immunity  to,  life  companies,  1955o,  19431 
Witness  required  on  ballot,  domestic  mutual  life  companies,  1947g 
Year  means  calendar  year,  dividends,  1906 


VO  28503 


632197 


UNIVERSITY  OF  CALIFORNIA  UBRARY 


i 


